S.D. Admin. R. 20:06:36:28
Current through Register Vol. 50, page 159, June 17, 2024
If a mandatory control level event occurs for any foreign insurer or foreign health organization and no domiciliary receiver has been appointed for the foreign insurer or foreign health organization under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer or foreign health organization, the director may apply to the circuit court of Hughes County, as permitted under SDCL chapter 58-29 B, for the liquidation of property of foreign insurers or foreign health organizations found in this state. The occurrence of the mandatory control level event is adequate grounds for the application.
S.D. Admin. R. 20:06:36:28
General Authority: SDCL 58-4-48.
Law Implemented: SDCL 58-4-48.