reglab/housing_qa huggingface dataset:
SD Codified L § 58-29A-65 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-65 - Recommendations for detection and prevention of insolvencies.

58-29A-65. Recommendations for detection and prevention of insolvencies.The board of directors may, upon majority vote, make recommendations to the director for the detection and prevention of insurer insolvencies. Source: SL 2000, ch 247, §12.
SD Codified L § 58-29A-66 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-66 - Recommendations on improving regulation for solvency.

58-29A-66. Recommendations on improving regulation for solvency.The board of directors may, upon majority vote, make recommendations to the director on matters generally related to improving or enhancing regulation for solvency. Source: SL 2000, ch 247, §13.
SD Codified L § 58-29A-67 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-67 - Report by directors on history and causes of insolvency.

58-29A-67. Report by directors on history and causes of insolvency.The board of directors may, at the conclusion of any domestic insurer insolvency in which the association was obligated to pay covered claims, prepare a report on the history and causes of such insolvency, based on the information available to the association, and submit the report to the director. Source: SL 2000, ch 247, §14.
SD Codified L § 58-29A-69 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-69 - Association deemed insurer to extent of obligations on covered claims.

58-29A-69. Association deemed insurer to extent of obligations on covered claims.The association shall be deemed the insurer to the extent of its obligation on the covered claims and to such extent, subject to the limitations provided in this chapter, shall have all rights, duties, and obligations of the insolvent insurer as if the insurer had not become insolvent, including the right to pursue and retain salvage and subrogation recoverable on paid covered claim obligations. The association may not be deemed the insolvent insurer for any purpose relating to the issue of whether the association is amenable to the personal jurisdiction of the courts of any state. Source: SL 2000, ch 247, §16.
SD Codified L § 58-29A-70 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-70 - Investigation, adjustment, and payment or denial of claims--Review of previous settlements, releases, and judgments.

58-29A-70. Investigation, adjustment, and payment or denial of claims--Review of previous settlements, releases, and judgments.The association shall investigate claims brought against the association and adjust, compromise, settle, and pay covered claims to the extent of the association's obligation and deny any other claims and may review settlements, releases, and judgments to which the insolvent insurer or its insureds were parties to determine the extent to which such settlements, releases, and judgments may be properly contested. The association may appoint and direct legal counsel retained under liability insurance policies for the defense of covered claims. Source: SL 2000, ch 247, §17.
SD Codified L § 58-29A-71 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-71 - Transfer or recovery of claim from certain covered persons.

58-29A-71. Transfer or recovery of claim from certain covered persons.The association, at its sole discretion, may transfer claims handling and financial responsibility for a covered claim to, or recover from, the following persons the amount of any covered claim paid on behalf of such person pursuant to this chapter:(1)Any insured whose net worth exceeds fifty million dollars and whose liability obligations to other persons, including obligations under workers' compensation insurance coverages, are satisfied in whole or in part by payments made under this chapter. Any insured's net worth is deemed to include the aggregate net worth of the insured and any of its subsidiaries and affiliates as calculated on a consolidated basis; and(2)Any person who is an affiliate of the insolvent insurer and whose liability obligations to other persons are satisfied in whole or in part by payments made under this chapter.The term, affiliate, does not include any insurance producer of the insolvent insurer. Source: SL 2000, ch 247, §18; SL 2001, ch 286, §137; SL 2004, ch 310, §3.
SD Codified L § 58-29A-72 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-72 - Means of handling claims--Designation of servicing facility.

58-29A-72. Means of handling claims--Designation of servicing facility.The association shall handle claims through its employees or through one or more insurers or other persons designated as servicing facilities. Designation of a servicing facility is subject to the approval of the director, but such designation may be declined by a member insurer. Source: SL 2000, ch 247, §19.
SD Codified L § 58-29A-73 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-73 - Reimbursement of servicing facility--Payment of other expenses.

58-29A-73. Reimbursement of servicing facility--Payment of other expenses.The association shall reimburse each servicing facility for obligations of the association paid by the facility and for expenses incurred by the facility while handling claims on behalf of the association and shall pay the other expenses of the association authorized by this chapter. Source: SL 2000, ch 247, §20.
SD Codified L § 58-29A-74 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-74 - Separate accounts for administration and assessment.

58-29A-74. Separate accounts for administration and assessment.For purposes of administration and assessment, the association shall be divided into three separate accounts:(1)The workers' compensation insurance account;(2)The automobile insurance account; and(3)The account for all other insurance to which this chapter applies. Source: SL 2000, ch 247, §21.
SD Codified L § 58-29A-75 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-75 - Allocation of claims, expenses, and assessments to separate accounts--Operating expenses excepted.

58-29A-75. Allocation of claims, expenses, and assessments to separate accounts--Operating expenses excepted.The association shall allocate claims paid and expenses incurred among the three accounts separately, and assess member insurers separately for each account amounts necessary to pay the obligations of the association under §58-29A-68 subsequent to an insolvency, the expenses of handling covered claims subsequent to an insolvency, the cost of examinations under §58-29A-63 and other expenses authorized by this chapter, except that expenses paid from assessments authorized by §58-29A-76 need not be allocated to any particular account. Source: SL 2000, ch 247, §22.
SD Codified L § 58-29A-76 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-76 - Administrative assessments for operating expenses.

58-29A-76. Administrative assessments for operating expenses.In addition to any other assessments authorized by this chapter, the association may assess each member insurer an administrative assessment not to exceed five hundred dollars per annum. The administrative assessment shall be made for the purpose of paying operating expenses of the association and its employees not directly attributable to any particular insolvency or insolvent insurer, and the administrative assessment may not be on a pro rata basis. The assessments are due not less than thirty days after prior written notice to the member insurer and shall accrue interest at ten percent per annum on and after the due date. Source: SL 2000, ch 247, §23; SL 2013, ch 251, §1.
SD Codified L § 58-29A-77 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-77 - Apportionment of assessments among members--Notice of assessment.

58-29A-77. Apportionment of assessments among members--Notice of assessment.The assessments of each member insurer shall be in the proportion that the net direct written premiums of the member insurer for the preceding calendar year on the kinds of insurance in the account bears to the net direct written premiums of all member insurers for the preceding calendar year on the kinds of insurance in the account. The assessment is due not less than thirty days after prior written notice to the member insurer and shall accrue interest at ten percent per annum on and after the due date. Source: SL 2000, ch 247, §24.
SD Codified L § 58-29A-78 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-78 - Maximum assessment in relation to net premiums.

58-29A-78. Maximum assessment in relation to net premiums.No member insurer may be assessed in any year on any account an amount greater than two percent of that member insurer's net direct written premiums for the preceding calendar year on the kinds of insurance in the account. Source: SL 2000, ch 247, §25.
SD Codified L § 58-29A-79 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-79 - Offset of payments and expenses against assessment due.

58-29A-79. Offset of payments and expenses against assessment due.Each member insurer may set off against any assessment, authorized payments made on covered claims and expenses incurred in the payment of such claims by the member insurer if they are chargeable to the account for which the assessment is made. Source: SL 2000, ch 247, §26.
SD Codified L § 58-29A-80 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-80 - Exemption or deferment of assessments to avoid impairment of capital or surplus.

58-29A-80. Exemption or deferment of assessments to avoid impairment of capital or surplus.The association may exempt or defer, in whole or in part, the assessment of any member insurer, if the assessment would cause the member insurer's financial statement to reflect amounts of capital or surplus less than the minimum amounts required for a certificate of authority by any jurisdiction in which the member insurer is authorized to transact insurance . However, during the period of deferment, no dividends may be paid to shareholders or policyholders. Deferred assessments shall be paid when such payment will not reduce capital or surplus below required minimums. Such payments shall be refunded to those companies receiving larger assessments by virtue of the deferment, or at the election of any such company, credited against future assessments. Source: SL 2000, ch 247, §27.
SD Codified L § 58-29A-81 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-81 - Proration of payments when assets insufficient for full payment.

58-29A-81. Proration of payments when assets insufficient for full payment.If the maximum assessment, together with the other assets of the association in any account, does not provide in any one year in any account an amount sufficient to make all necessary payments from that account, the funds available shall be prorated and the unpaid portion shall be paid as soon thereafter as funds become available. Source: SL 2000, ch 247, §28.
SD Codified L § 58-29A-82 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-82 - Refund of surplus to member insurers.

58-29A-82. Refund of surplus to member insurers.The association may refund to the member insurers in proportion to the contribution of each member insurer to that account that amount by which the assets of the account exceed the liabilities, if, at the end of any calendar year, the board of directors finds that the assets of the association in any account exceed the liabilities of that account as estimated by the board of directors for the coming year. Source: SL 2000, ch 247, §29.
SD Codified L § 58-29A-83 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-83 - Plan of operation submitted to director--Approval.

58-29A-83. Plan of operation submitted to director--Approval.The association shall submit to the director a plan of operation and any amendments necessary or suitable to assure the fair, reasonable, and equitable administration of the association. The plan of operation and any amendments is effective upon approval in writing by the director. Source: SL 2000, ch 247, §30.
SD Codified L § 58-29A-84 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-84 - Required contents of plan of operation.

58-29A-84. Required contents of plan of operation.The plan of operation shall:(1)Establish the procedures whereby all the powers and duties of the association under §§58-29A-60, 58-29A-68 to 58-29A-73, inclusive, and §§58-29A-75 to 58-29A-82, inclusive, will be performed;(2)Establish procedures for handling assets of the association;(3)Establish the amount and method of reimbursing members of the board of directors under §58-29A-59;(4)Establish procedures by which claims may be filed with the association and establish acceptable forms of proof of covered claims. Notice of claims to the receiver or liquidator of the insolvent insurer shall be deemed notice to the association or its agent and a list of such claims shall be periodically submitted to the association or similar organization in another state by the receiver or liquidator;(5)Establish regular places and times for meetings of the board of directors;(6)Establish procedures for records to be kept of all financial transactions of the association, its agents, and the board of directors;(7)Provide that any member insurer aggrieved by any final action or decision of the association may appeal to the director within thirty days after the action or decision;(8)Establish the procedures whereby selections for the board of directors will be submitted to the director;(9)Establish procedures for the disposition of liquidating dividends or other moneys received from the estate of the insolvent insurer;(10)Contain additional provisions necessary or proper for the execution of the powers and duties of the association. Source: SL 2000, ch 247, §31.
SD Codified L § 58-29A-85 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-85 - Compliance with plan of operation--Violation as misdemeanor.

58-29A-85. Compliance with plan of operation--Violation as misdemeanor.All member insurers shall comply with the plan of operation. Violation of this section is a Class 2 misdemeanor. Source: SL 2000, ch 247, §32.
SD Codified L § 58-29A-86 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-86 - Delegation of functions to interstate organization--Reimbursement of organization--Approval of delegation.

58-29A-86. Delegation of functions to interstate organization--Reimbursement of organization--Approval of delegation.The plan of operation may provide that any or all powers and duties of the association, except those under subdivision 58-29A-60(2) and those under §§58-29A-75 to 58-29A-81, inclusive, are delegated to a corporation, association, or other organization which performs or will perform functions similar to those of this association, or its equivalent, in two or more states. Such a corporation, association, or organization shall be reimbursed as a servicing facility would be reimbursed and shall be paid for its performance of any other functions of the association. A delegation under this section shall take effect only with the approval of both the board of directors and the director, and may be made only to a corporation, association, or organization which extends protection not substantially less favorable and effective than that provided by this chapter. Source: SL 2000, ch 247, §33.
SD Codified L § 58-29A-87 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-87 - Director's rules promulgated in lieu of amendments to plan of operation.

58-29A-87. Director's rules promulgated in lieu of amendments to plan of operation.If at any time the association fails to submit suitable amendments to the plan of operation, the director shall, after notice and hearing, promulgate such reasonable rules as are necessary or advisable to effectuate the provisions of this chapter. The rules shall continue in force until modified by the director or superseded by a plan submitted by the association and approved by the director. Source: SL 2000, ch 247, §34.
SD Codified L § 58-29A-88 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-88 - Notice to association of insolvency of insurer.

58-29A-88. Notice to association of insolvency of insurer.The director shall notify the association of the existence of an insolvent insurer not later than three days after the director receives notice of the determination of the insolvency. The association is entitled to a copy of any complaint seeking an order of liquidation with a finding of insolvency against a member company at the same time that the complaint is filed with a court of competent jurisdiction. Source: SL 2000, ch 247, §35.
SD Codified L § 58-29A-89 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-89 - Statement of members' premiums furnished to association.

58-29A-89. Statement of members' premiums furnished to association.The director shall, upon request of the board of directors, provide the association with a statement of the net direct written premiums of each member insurer. Source: SL 2000, ch 247, §36.
SD Codified L § 58-29A-90 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-90 - Stay of default proceedings against insolvent insurer--Setting aside of prior proceedings.

58-29A-90. Stay of default proceedings against insolvent insurer--Setting aside of prior proceedings.Any proceeding in which the insolvent insurer is a party or is obligated to defend a party in any court in this state shall, subject to waiver by the association in specific cases involving covered claims, be stayed until the last day fixed by the court for the filing of claims and such additional time thereafter as may be determined by the court from the date the insolvency is determined or an ancillary proceeding is instituted in the state, whichever is later, to permit proper defense by the association of all pending causes of action. As to any covered claims arising from a judgment under any decision, verdict, or finding based on the default of the insolvent insurer or its failure to defend an insured, the association, either on its own behalf or on behalf of such insured, may apply to have the judgment, order, decision, verdict, or finding set aside by the same court or administrator that made the judgment, order, decision, verdict, or finding and shall be permitted to defend against the claim on the merits. Source: SL 2000, ch 247, §37.
SD Codified L § 58-29A-91 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-91 - Suspension or revocation of certificate of authority for failure to pay assessment or comply with plan--Fine as alternative.

58-29A-91. Suspension or revocation of certificate of authority for failure to pay assessment or comply with plan--Fine as alternative.The director may suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any member insurer that fails to pay an assessment when due or fails to comply with the plan of operation. As an alternative, the director may levy a fine on any member insurer which fails to pay an assessment when due. The fine may not exceed five percent of the unpaid assessment per month, except that no fine may be less than one hundred dollars per month. Source: SL 2000, ch 247, §38.
SD Codified L § 58-29A-92 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-92 - Revocation of designation of servicing facility.

58-29A-92. Revocation of designation of servicing facility.The director may revoke the designation of any servicing facility if the director finds claims are being handled unsatisfactorily. Source: SL 2000, ch 247, §39.
SD Codified L § 58-29A-93 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-93 - Duplicate coverage--Insured to exhaust rights against solvent insurer.

58-29A-93. Duplicate coverage--Insured to exhaust rights against solvent insurer.Any person having a claim against an insurer, whether or not the insurer is a member insurer, under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall be required to first exhaust any right under the policy. Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the insurance policy. Source: SL 2000, ch 247, §40.
SD Codified L § 58-29A-94 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-94 - Duplicate coverage by insolvent insurers--Factors governing primary recovery.

58-29A-94. Duplicate coverage by insolvent insurers--Factors governing primary recovery.Any person having a claim which may be recovered under more than one insurance guaranty association or its equivalent shall seek recovery first from the association of the place of residence of the insured except that if it is a first-party claim for damage to property with a permanent location, the person shall seek recovery first from the association of the location of the property, and if it is a workers' compensation claim, the person shall seek recovery first from the association of the residence of the claimant. Any recovery under this chapter shall be reduced by the amount of recovery from any other insurance guaranty association or its equivalent. Source: SL 2000, ch 247, §41.
SD Codified L § 58-29A-95 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-95 - Subrogation of association to rights of claimant.

58-29A-95. Subrogation of association to rights of claimant.Any person recovering under this chapter shall be deemed to have assigned that person's rights under the policy to the association to the extent of any recovery from the association. Every insured or claimant seeking the protection of this chapter shall cooperate with the association to the same extent as such person would have been required to cooperate with the insolvent insurer. Source: SL 2000, ch 247, §42.
SD Codified L § 58-29A-96 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-96 - Restrictions on liability of insured to association.

58-29A-96. Restrictions on liability of insured to association.The association has no cause of action against the insured of the insolvent insurer for any sums it has paid out, except such causes of action as the insolvent insurer would have had if the sums had been paid by the insolvent insurer and except as provided in §58-29A-71. Source: SL 2000, ch 247, §43.