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