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2020 South Dakota Codified Laws
Title 58 - Insurance
Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation
Section 58-29B-123 - Valuation made under supervision of court--Treatment of deficiency and surrender of security.
Universal Citation: SD Codified L § 58-29B-123 (2020)
58-29B-123. Valuation made under supervision of court--Treatment of deficiency and surrender of security.
The determination made pursuant to §58-29B-122 shall be under the supervision and control of the court with due regard for the recommendation of the liquidator. The amount so determined shall be credited upon the secured claim, and any deficiency shall be treated as an unsecured claim. If the claimant shall surrender his security to the liquidator, the entire claim shall be allowed as if unsecured.
Source: SL 1989, ch 436, §123.
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