South Dakota § 58-29B-98 Application for approval of proposal to disburse assets.

South Dakota Statutes

§ 58-29B-98 — Application for approval of proposal to disburse assets.

South Dakota § 58-29B-98

Title 58INSURANCE

Ch. 58-29AINSURERS SUPERVISION, REHABILITATION AND LIQUIDATION

This text of South Dakota § 58-29B-98 (Application for approval of proposal to disburse assets.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-29B-98 (2026).

Text

Within one hundred twenty days of a final determination of insolvency of an insurer by the court, the liquidator shall make application to the court for approval of a proposal to disburse assets out of marshaled assets, from time to time as such assets become available, to a guaranty association or foreign guaranty association having obligations because of such insolvency. If the liquidator determines that there are insufficient assets to disburse, the application required by this section shall be considered satisfied by a filing by the liquidator stating the reasons for this determination.

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Within one hundred twenty days of a final determination of insolvency of an insurer by the court, the liquidator shall make application to the court for approval of a proposal to disburse assets out of marshaled assets, from time to time as such assets become available, to a guaranty association or foreign guaranty association having obligations because of such insolvency. If the liquidator determines that there are insufficient assets to disburse, the application required by this section shall be considered satisfied by a filing by the liquidator stating the reasons for this determination.