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2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation
§ 58-29B-41 Petition for liquidation--Grounds.
Universal Citation: SD Codified L § 58-29B-41 (2019)
58-29B-41. Petition for liquidation--Grounds. The director may petition the court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state based on the following:
(1) Any ground for an order of rehabilitation as specified in § 58-29B-31, whether or not there has been a prior order directing the rehabilitation of the insurer;
(2) The insurer is insolvent; or
(3) The insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.
Source: SL 1989, ch 436, § 41.
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