South Dakota § 58-29B-88 Liquidator's report to court--Time limit--Content.

South Dakota Statutes

§ 58-29B-88 — Liquidator's report to court--Time limit--Content.

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

As soon as practicable, but not more than two years from the date of an order of liquidation under §§ 58-29B-41 to 58-29B-45 , inclusive, of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth:

(1)The reasonable value of the assets of the insurer;

(2)The insurer's probable total liabilities;

(3)The probable aggregate amount of the assessment necessary to pay all claims of creditors and expenses in full, including expenses of administration and costs of collecting the assessment; and (4) A recommendation as to whether or not an assessment should be made and in what amount.

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As soon as practicable, but not more than two years from the date of an order of liquidation under §§ 58-29B-41 to 58-29B-45 , inclusive, of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth: (1) The reasonable value of the assets of the insurer; (2) The insurer's probable total liabilities; (3) The probable aggregate amount of the assessment necessary to pay all claims of creditors and expenses in full, including expenses of administration and costs of collecting the assessment; and (4) A recommendation as to whether or not an assessment should be made and in what amount.

South Dakota § 58-29B-88 (Liquidator's report to court--Time limit--Content.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.