There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 58 INSURANCE
Chapter 29B. Insurers Supervision, Rehabilitation And Liquidation
§58-29B-24 Authority to file petition for seizure order--Grounds.
SD Codified L § 58-29B-24 (through 2011) What's This?
58-29B-24. Authority to file petition for seizure order--Grounds. For domestic insurers the director may file in the circuit court of Hughes County a petition for a seizure order:
(1) That there exist any grounds that would justify a court order for a formal delinquency proceeding against an insurer under this chapter;
(2) That the interest of policyholders, creditors, or the public will be endangered by delay; and
(3) The contents of an order deemed necessary by the director.
Source: SL 1989, ch 436, § 24.
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