§ 58-29B-25 — Ex parte issuance of seizure order--Costs.

South Dakota § 58-29B-25

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

Text

Upon a filing under § 58-29B-24 , the court may issue forthwith, ex parte and without a hearing, the requested order which shall direct the director to take possession and control of all or a part of the property, books, accounts, documents, and other records of an insurer, and of the premises occupied by it for transaction of its business, and until further order of the court enjoin the insurer and its officers, managers, representatives, insurance producers, and employees from disposition of its property and from transaction of its business except with the written consent of the director. All costs and expenses incurred by the Division of Insurance, including attorney fees, associated with taking possession of the property, books, accounts, documents, and other records of the insurer and the business premises are the responsibility of the insurer and shall be paid from the insurer's funds and assets. The court may require an accounting of the costs and expenses.

Legislative History

SL 1989, ch 436, § 25; SL 1991, ch 404, § 2; SL 2001, ch 286, § 141.