South Dakota § 58-29B-51 Notice of liquidation--Methods.

South Dakota Statutes

§ 58-29B-51 — Notice of liquidation--Methods.

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

Unless the court otherwise directs, the liquidator must give notice of the liquidation order as soon as possible but in no event more than ten days from the date of entry of the order to liquidate:

(1)By first-class mail or electronic communication to the insurance director of each jurisdiction in which the insurer is doing business;

(2)By first-class mail to any guaranty association or foreign guaranty association that is or may become obligated as a result of the liquidation;

(3)By first-class mail to any insurance producer of the insurer;

(4)By first-class mail to any person or policyholder known or reasonably expected to have claims against the insurer, at the person's or policyholder's last known address, as indicated by the records of the insurer; and (5) By public

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Unless the court otherwise directs, the liquidator must give notice of the liquidation order as soon as possible but in no event more than ten days from the date of entry of the order to liquidate: (1) By first-class mail or electronic communication to the insurance director of each jurisdiction in which the insurer is doing business; (2) By first-class mail to any guaranty association or foreign guaranty association that is or may become obligated as a result of the liquidation; (3) By first-class mail to any insurance producer of the insurer; (4) By first-class mail to any person or policyholder known or reasonably expected to have claims against the insurer, at the person's or policyholder's last known address, as indicated by the records of the insurer; and (5) By publication in a newspaper of general circulation in the county the insurer has its principal place of business and in other locations as the liquidator considers appropriate.

South Dakota § 58-29B-51 (Notice of liquidation--Methods.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.