S.D. Codified Laws § 58-29B-147

Current through the 2024 Legislative Session

Section 58-29B-147 - Domiciliary receiver, conservator, or liquidator appointed for alien insurer-Appointment as ancillary receiver

If a domiciliary receiver, conservator, or liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Hughes County requesting appointment as ancillary receiver in this state:

(1) If the director finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or

(2) If the protection of creditors or policyholders in this state so requires.

SDCL 58-29B-147

SL 1989, ch 436, § 147; SL 2008, ch 271, §4.