South Dakota Statutes
§ 58-29B-41 — Petition for liquidation--Grounds.
The director may petition the court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state based on the following:
(1)Any ground for an order of rehabilitation as specified in § 58-29B-31 , whether or not there has been a prior order directing the rehabilitation of the insurer;
(2)The insurer is insolvent; or (3) The insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 58-29B-41 (Petition for liquidation--Grounds.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1989, ch 436, § 41.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.