reglab/housing_qa huggingface dataset:
SD Codified L § 58-29B-88 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-88 - Liquidator's report to court--Time limit--Content.

58-29B-88. Liquidator's report to court--Time limit--Content.As soon as practicable, but not more than two years from the date of an order of liquidation under §§58-29B-41 to 58-29B-45, inclusive, of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth:(1)The reasonable value of the assets of the insurer;(2)The insurer's probable total liabilities;(3)The probable aggregate amount of the assessment necessary to pay all claims of creditors and expenses in full, including expenses of administration and costs of collecting the assessment; and(4)A recommendation as to whether or not an assessment should be made and in what amount. Source: SL 1989, ch 436, §88.
SD Codified L § 58-29B-89 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-89 - Court to levy assessments--Amount.

58-29B-89. Court to levy assessments--Amount.Upon the basis of the report provided in §58-29B-88, including any supplements and amendments thereto, the court may levy one or more assessments against all members of the insurer who are subject to assessment. Subject to any applicable legal limits on assessability, the aggregate assessment shall be for the amount that the sum of the probable liabilities, the expenses of administration, and the estimated cost of collection of the assessment, exceeds the value of existing assets, with due regard being given to assessments that cannot be collected economically. Source: SL 1989, ch 436, §89.
SD Codified L § 58-29B-90 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-90 - Issuance of show cause order upon failure to pay assessment.

58-29B-90. Issuance of show cause order upon failure to pay assessment.After levy of assessment under §58-29B-89, the liquidator shall issue an order directing each member who has not paid the assessment pursuant to the order to show cause why the liquidator should not pursue a judgment therefor. Source: SL 1989, ch 436, §90.
SD Codified L § 58-29B-91 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-91 - Notice of show cause order.

58-29B-91. Notice of show cause order.The liquidator shall give notice of the order to show cause by legal publication in the county of the principal place of business of the insurer and by first class mail to each member liable thereunder mailed to his last known address as it appears on the insurer's records, at least twenty days before the return day of the order to show cause. Source: SL 1989, ch 436, §91.
SD Codified L § 58-29B-92 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-92 - Failure to appear and serve objections on or before return day of order--Procedure on timely appearance.

58-29B-92. Failure to appear and serve objections on or before return day of order--Procedure on timely appearance.If a member does not appear and serve duly verified objections upon the liquidator on or before the return day of the order to show cause under §58-29B-90, the court shall make an order adjudging the member liable for the amount of the assessment against him, pursuant to §58-29B-89, together with costs, and the liquidator shall have a judgment against the member therefor. If on or before such return day, the member appears and serves duly verified objections upon the liquidator, the director may hear and determine the matter or may appoint a referee to hear it and make such order as the facts warrant. In the event that the director determines that such objections do not warrant relief from assessment, the member may request the court to review the matter and vacate the order to show cause. Source: SL 1989, ch 436, §92.
SD Codified L § 58-29B-93 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-93 - Enforcement of order or judgment under § 58-29B-92.

58-29B-93. Enforcement of order or judgment under §58-29B-92.The liquidator may enforce any order or collect any judgment under §58-29B-92, by any lawful means. Source: SL 1989, ch 436, §93.
SD Codified L § 58-29B-94 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-94 - No reductions in amounts recoverable from reinsurers--Exception--Payments.

58-29B-94. No reductions in amounts recoverable from reinsurers--Exception--Payments.The amount recoverable by the liquidator from reinsurers may not be reduced as a result of delinquency proceedings, unless the reinsurance contract provides, in substance, that in the event of the insolvency of the ceding insurer, the reinsurance is payable under a contract reinsured by the reinsurer on the basis of reported claims allowed in the liquidation proceeding or proof of payment of the claim by a guaranty association, without diminution because of the insolvency of the ceding insurer. Such payments shall be made directly to the ceding insurer or to its domiciliary liquidator unless:(1)The contract or other written agreement specifically provides another payee of such reinsurance in the event of the insolvency of the ceding insurer; or(2)The reinsurer, with the consent of the direct insured, has assumed such policy obligations of the ceding insurer as direct obligations of the reinsurer to the payees under such policies and in substitution for the obligations of the ceding insurer to such payees. The consent of the liquidator is required for any such assumption of policy obligations effected after an order of liquidation. Source: SL 1989, ch 436, §94; SL 2005, ch 274, §1.
SD Codified L § 58-29B-94.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-94.1 - Association election to succeed to rights and obligations of insolvent insurer under reinsurance contract--Reinsurer's liability to pay claims.

58-29B-94.1. Association election to succeed to rights and obligations of insolvent insurer under reinsurance contract--Reinsurer's liability to pay claims.Notwithstanding §58-29B-94, if a life and health insurance guaranty association has made the election to succeed to the rights and obligations of the insolvent insurer under the contract of reinsurance, the reinsurer's liability to pay covered reinsured claims continues under the contract of reinsurance, subject to the payment to the reinsurer of the reinsurance premiums for such coverage. Payment for such reinsured claims may only be made by the reinsurer pursuant to the direction of the guaranty association or its designated successor. Any payment made at the direction of the guaranty association or its designated successor by the reinsurer discharges the reinsurer of any further liability to any other party for the claim payment. Source: SL 2005, ch 274, §2.
SD Codified L § 58-29B-95 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-95 - No liability for unearned premiums or uncollected earned premiums before declaration of insolvency--Recovery of unearned premium representing commission--Credits or setoffs--Obligations of uninsured.

58-29B-95. No liability for unearned premiums or uncollected earned premiums before declaration of insolvency--Recovery of unearned premium representing commission--Credits or setoffs--Obligations of uninsured.No insurance producer, premium finance company, or any other person, responsible for the payment of a premium at the time of the declaration of insolvency, may be held liable for payment of collected or uncollected unearned premiums or for uncollected earned premiums as shown on the records of the insurer. The liquidator has the right to recover from the person any part of an unearned premium that represents commission of the person. Credits or setoffs or both may not be allowed to an insurance producer, or premium finance company for any amounts advanced to the insurer by the insurance producer or premium finance company on behalf of, but in the absence of a payment by, the insured. An insured is obligated to pay any unpaid earned premium due the insurer at the time of the declaration of insolvency, as shown on the records of the insurer. Source: SL 1989, ch 436, §95; SL 1990, ch 403; SL 1995, ch 288, §2; SL 2001, ch 286, §147.
SD Codified L § 58-29B-96 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-96 - Course of action upon violation of § 58-29B-95--Director's options.

58-29B-96. Course of action upon violation of §58-29B-95--Director's options.Upon satisfactory evidence of a violation of §58-29B-95, the director may pursue either one or both of the following courses of action; suspend, revoke, or refuse to renew the licenses of such offending party or parties or impose a penalty of not more than one thousand dollars for each and every act in violation of §58-29B-95, by the party or parties. Source: SL 1989, ch 436, §96.
SD Codified L § 58-29B-97 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-97 - Notice and hearings required before impositions of penalties.

58-29B-97. Notice and hearings required before impositions of penalties.Before the director shall take any action as set forth in §58-29B-96, he shall give written notice to the person, company, association, or exchange accused of violating the law, stating specifically the nature of the alleged violation, and fixing a time and place, at least ten days thereafter, when a hearing on the matter shall be held. After such hearing, or upon failure of the accused to appear at such hearing, the director, if he shall find such violation, shall impose such of the penalties under §58-29B-96, as he deems advisable. If the director shall take action in any or all of the ways set out in §58-29B-96, the party aggrieved may appeal as provided by chapter 1-26. Source: SL 1989, ch 436, §97.
SD Codified L § 58-29B-98 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-98 - Application for approval of proposal to disburse assets.

58-29B-98. Application for approval of proposal to disburse assets.Within one hundred twenty days of a final determination of insolvency of an insurer by the court, the liquidator shall make application to the court for approval of a proposal to disburse assets out of marshaled assets, from time to time as such assets become available, to a guaranty association or foreign guaranty association having obligations because of such insolvency. If the liquidator determines that there are insufficient assets to disburse, the application required by this section shall be considered satisfied by a filing by the liquidator stating the reasons for this determination. Source: SL 1989, ch 436, §98.
SD Codified L § 58-29B-99 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-99 - Proposal to disburse assets--Contents.

58-29B-99. Proposal to disburse assets--Contents.The proposal under §58-29B-98 shall include, but is not limited to, provisions for:(1)Reserving amounts for the payment of expenses of administration and the payment of claims of secured creditors to the extent of the value of the security held, and claims falling within the priorities established in subdivisions 58-29B-124(1) and (2);(2)Disbursement of the assets marshaled to date and subsequent disbursement of assets as they become available;(3)Equitable allocation of disbursements to each of the guaranty associations and foreign guaranty associations entitled thereto;(4)The securing by the liquidator from each of the associations entitled to disbursements pursuant to this section of an agreement to return to the liquidator such assets, together with income earned on assets previously disbursed, as may be required to pay claims of secured creditors and claims falling within the priorities established in §58-29B-124, in accordance with such priorities. No bond is required of any such association; and(5)A full report to be made by each association to the liquidator accounting for all assets so disbursed to the association, all disbursements made therefrom, any interest earned by the association on such assets and any other matter as the court may direct. Source: SL 1989, ch 436, §99.
SD Codified L § 58-29B-100 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-100 - Amounts for disbursements to associations.

58-29B-100. Amounts for disbursements to associations.The liquidator's proposal shall provide for disbursements to the associations in amounts estimated at least equal to the claim payments made or to be made thereby for which such associations could assert a claim against the liquidator, and shall further provide that if the assets available for disbursement from time to time do not equal or exceed the amount of such claim payments made, or to be made, by the association then disbursements shall be in the amount of available assets. Source: SL 1989, ch 436, §100.
SD Codified L § 58-29B-101 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-101 - Insolvent insurer writing life or health insurance or annuities--Liquidator to include disbursements to guaranty in proposal.

58-29B-101. Insolvent insurer writing life or health insurance or annuities--Liquidator to include disbursements to guaranty in proposal.The liquidator's proposal shall, with respect to an insolvent insurer writing life or health insurance or annuities, provide for disbursements of assets to any guaranty association or any foreign guaranty association covering life or health insurance or annuities or to any other entity or organization reinsuring, assuming, or guaranteeing policies or contracts of insurance under the acts creating such associations. Source: SL 1989, ch 436, §101.
SD Codified L § 58-29B-102 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-102 - Notice of application for approval of proposal.

58-29B-102. Notice of application for approval of proposal.Notice of the application under §58-29B-98 shall be given to the association and to the directors of insurance of each of the states. Any such notice shall be deemed to have been given when deposited in the United States' mail, with first class postage prepaid thereon, at least thirty days prior to submission of such application to the court. Action on the application may be taken by the court provided the required notice has been given and the liquidator's proposal complies with subdivisions 58-29B-99(1) and (2). Source: SL 1989, ch 436, §102.
SD Codified L § 58-29B-103 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-103 - Filing proof of claims--Exceptions.

58-29B-103. Filing proof of claims--Exceptions.Proof of all claims shall be filed with the liquidator in the form required by §§58-29B-106 to 58-29B-110, inclusive, on or before the last day for filing specified in the notice required under §§58-29B-51 and 58-29B-52, except that proof of claims for cash surrender values or other investment values in life insurance and annuities need not be filed unless the liquidator expressly so requires. Source: SL 1989, ch 436, §103.
SD Codified L § 58-29B-104 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-104 - Circumstances under which claimant making late filing may share in distributions.

58-29B-104. Circumstances under which claimant making late filing may share in distributions. The liquidator may permit a claimant making a late filing to share in distributions, whether past or future, as if he were not late, to the extent that any such payment will not prejudice the orderly administration of the liquidation, under the following circumstances:(1)The existence of the claim was not known to the claimant and that he filed his claim as promptly thereafter as reasonably possible after learning of it;(2)A transfer to a creditor was avoided under §§58-29B-61 to 58-29B-83, inclusive, or was voluntarily surrendered under §§58-29B-84 and 58-29B-85, and that the filing satisfies the conditions of §§58-29B-84 and 58-29B-85; or(3)The valuation under §§58-29B-121 and 58-29B-122, of security held by a secured creditor shows a deficiency, which is filed within thirty days after the valuation. Source: SL 1989, ch 436, §104; SL 2021, ch 210, § 18.
SD Codified L § 58-29B-105 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-105 - Certain late filing claims of guaranty association--Right to share in distributions.

58-29B-105. Certain late filing claims of guaranty association--Right to share in distributions.The liquidator shall permit late filing claims to share in distributions, whether past or future, as if they were not late, if such claims are claims of a guaranty association or foreign guaranty association for reimbursement of covered claims paid or expenses incurred, or both, subsequent to the last day for filing where such payments were made and expenses incurred as provided by law. Source: SL 1989, ch 436, §105.
SD Codified L § 58-29B-106 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-106 - Treatment of late claims not covered by § 58-29B-104.

58-29B-106. Treatment of late claims not covered by §58-29B-104.The liquidator may consider any claim filed late which is not covered by §58-29B-104, and permit it to receive distributions which are subsequently declared on any claims of the same or lower priority if the payment does not prejudice the orderly administration of the liquidation. The late filing claimant shall receive, at each distribution, the same percentage of the amount allowed on his claim as is then being paid to claimants of any lower priority. This shall continue until his claim has been paid in full. Source: SL 1989, ch 436, §106.
SD Codified L § 58-29B-107 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-107 - Proof of claim--Contents.

58-29B-107. Proof of claim--Contents.Proof of claim shall consist of a verified statement signed by the claimant that includes all of the following that are applicable:(1)The particulars of the claim including the consideration given for it;(2)The identity and amount of the security on the claim;(3)The payments made on the debt, if any;(4)That the sum claimed is justly owing and that there is no setoff, counterclaim, or defense to the claim;(5)Any right of priority of payment or other specific right asserted by the claimants;(6)A copy of the written instrument which is the foundation of the claim;(7)The name and address of the claimant and the attorney who represents him, if any. Source: SL 1989, ch 436, §107.
SD Codified L § 58-29B-108 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-108 - Failure to provide necessary information--Liquidator may require prescribed forms and additional information.

58-29B-108. Failure to provide necessary information--Liquidator may require prescribed forms and additional information.The liquidator need not consider or allow a claim if it does not contain all the information in §58-29B-107, which may be applicable. The liquidator may require that a prescribed form be used and may require that other information and documents be included. Source: SL 1989, ch 436, §108.
SD Codified L § 58-29B-109 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-109 - Liquidator may request or otherwise obtain additional information or evidence.

58-29B-109. Liquidator may request or otherwise obtain additional information or evidence.At any time the liquidator may request the claimant to present information or evidence supplementary to that required under §58-29B-107, and may take testimony under oath, require production of affidavits or depositions, or otherwise obtain additional information or evidence. Source: SL 1989, ch 436, §109.
SD Codified L § 58-29B-110 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-110 - Judgment or order not evidence of liability or quantum of damages.

58-29B-110. Judgment or order not evidence of liability or quantum of damages.No judgment or order against an insured or the insurer entered after the date of filing of a successful petition for liquidation and no judgment or order against an insured or the insurer entered at any time by default or by collusion need be considered as evidence of liability or of quantum of damages. No judgment or order against an insured or the insurer entered within four months before the filing of the petition need be considered as evidence of liability or of the quantum of damages. Source: SL 1989, ch 436, §110.
SD Codified L § 58-29B-111 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-111 - Claims of guaranty associations--Form and content.

58-29B-111. Claims of guaranty associations--Form and content.All claims of a guaranty association or foreign guaranty association shall be in such form and contain such substantiation as may be agreed to by the association and the liquidator. Source: SL 1989, ch 436, §111.
SD Codified L § 58-29B-112 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-112 - Third party's claim contingent on judgment against insured--Consideration.

58-29B-112. Third party's claim contingent on judgment against insured--Consideration.The claim of a third party which is contingent only on his first obtaining a judgment against the insured shall be considered and allowed as if there were no such contingency. Source: SL 1989, ch 436, §112.
SD Codified L § 58-29B-113 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-113 - Contingent claims allowed.

58-29B-113. Contingent claims allowed.A claim may be allowed even if contingent, if it is filed in accordance with §§58-29B-103 to 58-29B-106, inclusive. It may be allowed and may participate in all distributions declared after it is filed to the extent that it does not prejudice the orderly administration of the liquidation. Source: SL 1989, ch 436, §113.
SD Codified L § 58-29B-114 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-114 - Treatment of claims due except for passage of time.

58-29B-114. Treatment of claims due except for passage of time.Claims that are due except for the passage of time shall be treated as settled claims are treated. However, such claims may be discounted at the rate specified in §58-15-15.8 minus two percent. Source: SL 1989, ch 436, §114.