2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 07 - Insurers' Deposits With State
§ 58-7-27 Decline in market value of deposited assets--Deposit of additional assets or securities.
58-7-27. Decline in market value of deposited assets--Deposit of additional assets or securities. If for any reason the current market value of such assets and securities falls below the amount of deposit required of the insurer under this title, the insurer shall promptly deposit other or additional assets or securities eligible for deposit and in amount sufficient to cure the deficiency. If the insurer has failed to cure the deficiency within thirty days after receipt of notice thereof by registered or certified mail from the director, the director shall forthwith without further notice revoke the insurer's certificate of authority.
Source: SL 1966, ch 111, ch 7, § 13 (2).
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
