South Dakota § 58-29B-24 Authority to file petition for seizure order--Grounds.

South Dakota Statutes

§ 58-29B-24 — Authority to file petition for seizure order--Grounds.

South Dakota·Title 58 INSURANCE·Ch. 58-29A INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION

For domestic insurers the director may file in the circuit court of Hughes County a petition for a seizure order:

(1)That there exist any grounds that would justify a court order for a formal delinquency proceeding against an insurer under this chapter;

(2)That the interest of policyholders, creditors, or the public will be endangered by delay; and (3) The contents of an order deemed necessary by the director.

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For domestic insurers the director may file in the circuit court of Hughes County a petition for a seizure order: (1) That there exist any grounds that would justify a court order for a formal delinquency proceeding against an insurer under this chapter; (2) That the interest of policyholders, creditors, or the public will be endangered by delay; and (3) The contents of an order deemed necessary by the director.

South Dakota § 58-29B-24 (Authority to file petition for seizure order--Grounds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.