S.D. Codified Laws § 58-5-139

Current through the 2024 Legislative Session

Section 58-5-139 - Liquidation of domestic mutual insurer-Distribution of remaining assets to members

Upon any liquidation of a domestic mutual insurer, its assets remaining after liquidation of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, and expenses of administration, shall be distributed to existing persons who were its members at any time within thirty-six months next preceding the date such liquidation was authorized or ordered, or date of last termination of the insurer's certificate of authority, whichever date is the earlier.

SDCL 58-5-139

SL 1966, ch 111, ch 16, § 42 (1).