Chapter 29B - INSURERS SUPERVISION, REHABILITATION AND LIQUIDATION
- Section 58-29B-1 - Citation of chapter
- Section 58-29B-2 - Scope
- Section 58-29B-3 - Definition of terms
- Section 58-29B-4 - Delinquency proceedings sole and exclusive remedy-Commencement of proceedings by director
- Section 58-29B-5 - Commencement of proceedings despite lack of notice to insurer
- Section 58-29B-6 - Grounds for personal jurisdiction
- Section 58-29B-7 - Venue of proceedings
- Section 58-29B-8 - Receiver authorized to grant certain orders
- Section 58-29B-9 - Persons to cooperate in proceedings and preliminary investigations
- Section 58-29B-10 - Obstruction or interference in conduct of proceedings
- Section 58-29B-11 - Failure to cooperate-Obstruction or interference-Penalty
- Section 58-29B-12 - Directors and deputies responsible for official bonds-Source of payment
- Section 58-29B-13 - Proceedings commenced prior to enactment of chapter
- Section 58-29B-13.1 - Service of appropriate orders by director
- Section 58-29B-14 - Director's determination of continuation of business hazardous-Notification of insurer
- Section 58-29B-15 - Supervision of insurer-Appointment of supervisor-Certain acts by insurer prohibited-Costs
- Section 58-29B-16 - Insurer to comply with director's requirements-Time period-Failure to comply
- Section 58-29B-17 - Hearings-Notice and procedure
- Section 58-29B-18 - Request for hearing-Request not to stay order
- Section 58-29B-19 - Waiver of hearing-Application for judicial relief-Judicial review of order after hearing
- Section 58-29B-20 - Requests for review of supervisor's actions
- Section 58-29B-21 - Violation of supervision order-Penalty
- Section 58-29B-22 - Application for necessary orders to enforce supervision order
- Section 58-29B-23 - Violation of valid orders-Personal liability for losses suffered by insurer-Commencement of action
- Section 58-29B-24 - Authority to file petition for seizure order-Grounds
- Section 58-29B-25 - Ex parte issuance of seizure order-Costs
- Section 58-29B-26 - Duration of order-Hearing to extend, shorten or modify-Vacation of order
- Section 58-29B-27 - Entry of order not anticipatory breach of insurer's contracts
- Section 58-29B-28 - Petition for review of order-Procedure
- Section 58-29B-29 - Notice to persons not present at hearing-Effect on previously issued order
- Section 58-29B-30 - Records to remain confidential-Exceptions
- Section 58-29B-31 - Application by director for rehabilitation of insurer-Grounds
- Section 58-29B-32 - Order of rehabilitation-Contents-Effect of filing or recording-Vesting of title-Accounting required
- Section 58-29B-32.1 - Appointment of deputies-Powers and responsibilities-Employment of counsel, clerks and assistants-Compensation-Advisory committee
- Section 58-29B-32.2 - Promulgation of rules for appointing committees
- Section 58-29B-33 - Authority of rehabilitator to reform and revitalize issuer
- Section 58-29B-34 - Authority to pursue legal remedies on insurer's behalf
- Section 58-29B-35 - Rehabilitator's plan for transformation-Application and grounds for approval-Procedure upon approval
- Section 58-29B-36 - Disposition of actions in which insurer a party pending when rehabilitation order entered
- Section 58-29B-37 - Petition for appointment of rehabilitator-Suspension of statute of limitations, laches-Time period for commencement of actions ripe when petition is filed
- Section 58-29B-38 - Guaranty associations-Standing to appear in rehabilitation proceedings
- Section 58-29B-39 - Rehabilitation futile-Petition for liquidation-Effect-Court to permit directors or insurers to defend
- Section 58-29B-40 - Termination of rehabilitation-Procedure-Payment of costs
- Section 58-29B-41 - Petition for liquidation-Grounds
- Section 58-29B-42 - Order of liquidation-Contents-Title vested in liquidator-Effect of filing or recording
- Section 58-29B-42.1 - Plan for continued performance of policy claim obligations during appeal of liquidation order
- Section 58-29B-43 - Rights and liabilities fixed upon issuance of order
- Section 58-29B-44 - Order to liquidate alien insurer domiciled in state-Effect
- Section 58-29B-45 - Declaration of insurer's insolvency-Procedure
- Section 58-29B-46 - Order of liquidation-Financial reports required-Annual filing
- Section 58-29B-47 - Effect of order upon policies in effect at time of issuance
- Section 58-29B-48 - Order to dissolve corporate existence-Procedure
- Section 58-29B-49 - Powers of liquidator
- Section 58-29B-50 - Enumeration in section 58-29B-49 not exclusive
- Section 58-29B-50.1 - Obligations of liquidator subsequent to entry of liquidation order
- Section 58-29B-51 - Notice of liquidation order
- Section 58-29B-52 - Duties of claimant upon notice of liquidation
- Section 58-29B-53 - Duties of insurance producer upon notice of liquidation
- Section 58-29B-54 - Failure of insurance producer to comply with section 58-29B-53-Penalty-Liquidator's waiver of duties
- Section 58-29B-55 - Appointment of liquidator-Effect upon actions and injunctions pending against insurer or liquidator-Liquidator's right to intervene
- Section 58-29B-56 - Time periods in which liquidator may act for or institute action on behalf of insurer
- Section 58-29B-57 - Petition for liquidation-Suspension of statute of limitations, laches-Time period for commencement of actions ripe when petition filed
- Section 58-29B-58 - Guaranty associations-Standing to appear in liquidation proceedings
- Section 58-29B-59 - Liquidator to prepare list of insurer's assets-Filing requirements
- Section 58-29B-60 - Reduction of assets to appropriate degree
- Section 58-29B-61 - "Fraudulent transfers" defined-Avoidance by receiver-Acceptance or preservation of transfer
- Section 58-29B-61.1 - Liability of beneficiary of fraudulent transfer
- Section 58-29B-62 - Fraudulent transfers between insurer and reinsurer-Grounds for avoidance by receiver
- Section 58-29B-63 - Transfers of insurer's real property after petition filed-Recording of copy of petition as constructive notice
- Section 58-29B-64 - Validity of transfers after petitions filed and before receiver takes possession or order granted
- Section 58-29B-65 - No impairment of negotiability
- Section 58-29B-66 - "Preference" defined
- Section 58-29B-67 - Preference-Avoidance by liquidator
- Section 58-29B-68 - Preference voidable-Consequences
- Section 58-29B-69 - When transfer of property other than real property deemed made or suffered
- Section 58-29B-70 - When transfer of real property deemed made or suffered
- Section 58-29B-71 - Transfer creating equitable lien-Conditions prohibiting perfection
- Section 58-29B-72 - Transfer not perfected prior to filing of petition deemed made before filing of successful petition
- Section 58-29B-73 - Sections 58-29B-69 to 58-29B-72 applicable despite certain creditors or potential bona fide purchasers
- Section 58-29B-74 - "Lien by legal or equitable proceedings upon simple contract" defined
- Section 58-29B-75 - Lien by legal or equitable proceedings-Superiority to rights of transferee
- Section 58-29B-76 - Transfer for or on account of new and contemporaneous consideration-Transfer to secure future loan-Effects
- Section 58-29B-77 - Voidable lien dissolved-Indemnifying transfer or lien deemed voidable
- Section 58-29B-78 - Property affected by voidable lien discharge-That and indemnifying property pass to liquidator-Exception
- Section 58-29B-79 - Summary jurisdiction of Hughes county circuit court-Notice-Valuation of certain property or liens-Election of transferee or lienholder
- Section 58-29B-80 - Extent of surety discharge under releasing bond or similar obligation
- Section 58-29B-81 - Preferred creditor-Setoff for new credit issued in good faith
- Section 58-29B-82 - Transfers by insurer to attorney for services within four months of filing petition-Examination by court
- Section 58-29B-83 - Conditions creating personal liability to liquidator for amount of preference
- Section 58-29B-84 - Claims of creditor who has received or acquired a voidable preference, lien, conveyance, transfer, assignment, or encumbrance
- Section 58-29B-85 - Filing of claims under section 58-29B-84
- Section 58-29B-86 - Mutual debts or credits between insurer and another set off
- Section 58-29B-87 - Setoff or counterclaim not allowed
- Section 58-29B-88 - Liquidator's report to court-Time limit-Content
- Section 58-29B-89 - Court to levy assessments-Amount
- Section 58-29B-90 - Issuance of show cause order upon failure to pay assessment
- Section 58-29B-91 - Notice of show cause order
- Section 58-29B-92 - Failure to appear and serve objections on or before return day of order-Procedure on timely appearance
- Section 58-29B-93 - Enforcement of order or judgment under section 58-29B-92
- Section 58-29B-94 - No reductions in amounts recoverable from reinsurers-Exception-Payments
- Section 58-29B-94.1 - Association election to succeed to rights and obligations of insolvent insurer under reinsurance contract-Reinsurer's liability to pay claims
- Section 58-29B-95 - No liability for unearned premiums or uncollected earned premiums before declaration of insolvency-Recovery of unearned premium representing commission-Credits or setoffs-Obligations of uninsured
- Section 58-29B-96 - Course of action upon violation of section 58-29B-95-Director's options
- Section 58-29B-97 - Notice and hearings required before impositions of penalties
- Section 58-29B-98 - Application for approval of proposal to disburse assets
- Section 58-29B-99 - Proposal to disburse assets-Contents
- Section 58-29B-100 - Amounts for disbursements to associations
- Section 58-29B-101 - Insolvent insurer writing life or health insurance or annuities-Liquidator to include disbursements to guaranty in proposal
- Section 58-29B-102 - Notice of application for approval of proposal
- Section 58-29B-103 - Filing proof of claims-Exceptions
- Section 58-29B-104 - Circumstances under which claimant making late filing may share in distributions
- Section 58-29B-105 - Certain late filing claims of guaranty association-Right to share in distributions
- Section 58-29B-106 - Treatment of late claims not covered by section 58-29B-104
- Section 58-29B-107 - Proof of claim-Contents
- Section 58-29B-108 - Failure to provide necessary information-Liquidator may require prescribed forms and additional information
- Section 58-29B-109 - Liquidator may request or otherwise obtain additional information or evidence
- Section 58-29B-110 - Judgment or order not evidence of liability or quantum of damages
- Section 58-29B-111 - Claims of guaranty associations-Form and content
- Section 58-29B-112 - Third party's claim contingent on judgment against insured-Consideration
- Section 58-29B-113 - Contingent claims allowed
- Section 58-29B-114 - Treatment of claims due except for passage of time
- Section 58-29B-115 - Claims made under employment contracts by directors or similar personnel-Limit on payment
- Section 58-29B-116 - Third party claim against insured of insurer in liquidation filed with liquidator-Insured's filing-Late filing
- Section 58-29B-117 - Allowance of insured's claim-Liquidator's recommendations to court-Sums withheld-Procedures upon allowance
- Section 58-29B-118 - Several claims founded upon one policy-Disposition-Prohibited claims
- Section 58-29B-119 - Liquidator to give written notice of denial of claim-Objections
- Section 58-29B-120 - Hearing upon objections-Notice-Referee may conduct
- Section 58-29B-121 - Creditor's claim secured by "other person"-Subrogation-Right to distribution
- Section 58-29B-122 - Valuation of security held by secured creditor
- Section 58-29B-123 - Valuation made under supervision of court-Treatment of deficiency and surrender of security
- Section 58-29B-124 - Priority and order of distribution of claims from insurer's estate
- Section 58-29B-125 - Review, investigation and negotiation of claims by liquidator-Exception-Report to court
- Section 58-29B-126 - Court approval, disapproval, or modification of report
- Section 58-29B-127 - Distributions by liquidator under court direction-Manner of payment
- Section 58-29B-128 - Disposition of unclaimed funds subject to distribution
- Section 58-29B-129 - Disposition of funds not distributed
- Section 58-29B-130 - Application for discharge
- Section 58-29B-131 - Petition to reopen proceedings for good cause
- Section 58-29B-132 - Recommendation and direction for retention or disposal of insurer's records
- Section 58-29B-133 - Audits of receivership books
- Section 58-29B-134 - Director's application to act as conservator-Grounds
- Section 58-29B-135 - Issuance of order allowing director to act as conservator-Filing-Notice imparted
- Section 58-29B-136 - Petition to liquidate assets of foreign or alien insurer
- Section 58-29B-137 - Termination of conservation of insurer
- Section 58-29B-138 - Director's application to liquidate assets of foreign or alien insurer-Grounds
- Section 58-29B-139 - Notice of orders sought under section 58-29B-134 or 58-29B-138
- Section 58-29B-140 - Order to liquidate in whatever terms court deems appropriate-Filing-Notice imparted
- Section 58-29B-141 - Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding-Duty to act as ancillary receiver
- Section 58-29B-142 - Director's application to act as receiver-Grounds
- Section 58-29B-143 - Payment of resident's claims against foreign or alien insurer
- Section 58-29B-144 - Domiciliary receiver, conservator, or liquidator of insurer domiciled in reciprocal state-Title vested-Date of vesting
- Section 58-29B-145 - Domiciliary liquidator for insurer not domiciled in reciprocal state-Title vested-Timing-Petition for conservation or liquidation
- Section 58-29B-146 - Resident claimants-With whom and when to file
- Section 58-29B-147 - Domiciliary receiver, conservator, or liquidator appointed for alien insurer-Appointment as ancillary receiver
- Section 58-29B-148 - Court may appoint ancillary receiver on terms deemed appropriate-Filing-Notice imparted
- Section 58-29B-149 - Duties and powers of ancillary receiver when domiciliary receiver, conservator, or liquidator appointed in reciprocal state
- Section 58-29B-150 - Duties and powers of ancillary receivers, conservators, or liquidators when domiciliary liquidator appointed in this state
- Section 58-29B-151 - Director may institute proceedings under sections 58-29B-13 to 58-29B-30
- Section 58-29B-152 - Liquidation proceeding against insurer domiciled in state-Claimants residing in foreign countries or states not reciprocal-Filing
- Section 58-29B-153 - Proof of claims of residents in reciprocal states
- Section 58-29B-154 - Proceeding in reciprocal state against domiciled insurer-Filing
- Section 58-29B-155 - Proof of claims of South Dakota residents-Elections-Procedure
- Section 58-29B-156 - Final allowance by state courts conclusive as to amount and priority
- Section 58-29B-157 - Attachment, garnishment, levy of execution prohibited during receivership, conservatorship, or liquidation proceedings
- Section 58-29B-158 - Domiciliary state's order of distribution controls claims of residents of this and reciprocal states
- Section 58-29B-159 - Owners of special deposit claims-Priority-Deficiencies in deposit
- Section 58-29B-160 - Owner of secured claim-Elections
- Section 58-29B-161 - Ancillary receiver's failure to transfer certain assets