reglab/housing_qa huggingface dataset:
SD Codified L § 58-29B-115 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-115 - Claims made under employment contracts by directors or similar personnel--Limit on payment.

58-29B-115. Claims made under employment contracts by directors or similar personnel--Limit on payment.Claims made under employment contracts by directors, principal officers, or persons in fact performing similar functions or having similar powers are limited to payment for services rendered prior to the issuance of any order of rehabilitation or liquidation under §58-29B-32 or 58-29B-42. Source: SL 1989, ch 436, §115.
SD Codified L § 58-29B-116 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-116 - Third party claim against insured of insurer in liquidation filed with liquidator--Insured's filing--Late filing.

58-29B-116. Third party claim against insured of insurer in liquidation filed with liquidator--Insured's filing--Late filing.If any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator. Whether or not the third party files a claim, the insured may file a claim on his own behalf in the liquidation. If the insured fails to file a claim by the date for filing claims specified in the order of liquidation or within sixty days after mailing of the notice required by §§58-29B-51 and 58-29B-52, whichever is later, he is an unexcused late filer. Source: SL 1989, ch 436, §116.
SD Codified L § 58-29B-117 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-117 - Allowance of insured's claim--Liquidator's recommendations to court--Sums withheld--Procedures upon allowance.

58-29B-117. Allowance of insured's claim--Liquidator's recommendations to court--Sums withheld--Procedures upon allowance.The liquidator shall make his recommendations to the court under §58-29B-125, for the allowance of an insured's claim under §58-29B-116, after consideration of the probable outcome of any pending action against the insured on which the claim is based, the probable damages recoverable in the action and the probable costs and expenses of defense. After allowance by the court, the liquidator shall withhold any dividends payable on the claim, pending the outcome of litigation and negotiation with the insured. Upon request by the claimant the liquidator may reconsider the claim on the basis of additional information and amend his recommendations to the court. The court may amend its allowance as it considers appropriate. As claims against the insured are settled or barred, the insured shall be paid from the amount withheld the same percentage dividend as was paid on other claims of like property, based on the lesser of the amount actually recovered from the insured by action or paid by agreement plus the reasonable costs and expenses of defense or the amount allowed on the claims by the court. After all claims are settled or barred, any sum remaining from the amount withheld shall revert to the undistributed assets of the insurer. Delay in final payment under this section shall not be a reason for unreasonable delay of final distribution and discharge of the liquidator. Source: SL 1989, ch 436, §117.
SD Codified L § 58-29B-118 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-118 - Several claims founded upon one policy--Disposition--Prohibited claims.

58-29B-118. Several claims founded upon one policy--Disposition--Prohibited claims.If several claims founded upon one policy are filed, whether by third parties or as claims by the insured under §58-29B-116 or 58-29B-128, and the aggregate allowed amount of the claims to which the same limit of liability in the policy is applicable exceeds that limit, each claim as allowed shall be reduced in the same proportion so that the total equals the policy limit. Claims by the insured shall be evaluated as in §58-29B-117. If any insured's claim is subsequently reduced under §58-29B-117, the amount thus freed shall be apportioned ratably among the claims which have been reduced under this section. No claim may be presented under §58-29B-116 or this section, if it is or may be covered by any guaranty association or foreign guaranty association. Source: SL 1989, ch 436, §118.
SD Codified L § 58-29B-119 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-119 - Liquidator to give written notice of denial of claim--Objections.

58-29B-119. Liquidator to give written notice of denial of claim--Objections.If a claim is denied in whole or in part by the liquidator, written notice of the determination shall be given to the claimant or his attorney by first class mail at the address shown in the proof of claim. Within sixty days from the mailing of the notice, the claimant may file his objections with the liquidator. If no such filing is made, the claimant may not further object to the determination. Source: SL 1989, ch 436, §119.
SD Codified L § 58-29B-120 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-120 - Hearing upon objections--Notice--Referee may conduct.

58-29B-120. Hearing upon objections--Notice--Referee may conduct.If objections are filed with the liquidator and the liquidator does not alter his denial of the claim as a result of the objections, the liquidator shall ask the court for a hearing as soon as practicable and give notice of the hearing by first class mail to the claimant or his attorney and to any other persons directly affected, not less than ten nor more than thirty days before the date of the hearing. The matter may be heard by the court or by a court-appointed referee who shall submit findings of fact along with his recommendation. Source: SL 1989, ch 436, §120.
SD Codified L § 58-29B-121 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-121 - Creditor's claim secured by "other person"--Subrogation--Right to distribution.

58-29B-121. Creditor's claim secured by "other person"--Subrogation--Right to distribution.If a creditor whose claim against an insurer is secured, in whole or in part, by the undertaking of another person, fails to prove and file that claim, the other person may do so in the creditor's name, and shall be subrogated to the rights of the creditor, whether the claim has been filed by the creditor or by the other person in the creditor's name, to the extent that he discharges the undertaking. In the absence of an agreement with the creditor to the contrary, the other person is not entitled to any distribution paid on the claim from the insurer's estate to the creditor if the claim of the other person equals the amount of the entire claim of the creditor. Any excess received by the creditor shall be held by him in trust for such other person. The term "other person," as used in this section is not intended to apply to a guaranty association or foreign guaranty association. Source: SL 1989, ch 436, §121.
SD Codified L § 58-29B-122 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-122 - Valuation of security held by secured creditor.

58-29B-122. Valuation of security held by secured creditor.The value of any security held by a secured creditor shall be determined in one of the following ways, as the court may direct:(1)By converting the same into money according to the terms of the agreement pursuant to which the security was delivered to such creditors; or(2)By agreement, arbitration, compromise, or litigation between the creditor and the liquidator. Source: SL 1989, ch 436, §122.
SD Codified L § 58-29B-123 (2021)
2021 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.

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.
SD Codified L § 58-29B-125 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-125 - Review, investigation and negotiation of claims by liquidator--Exception--Report to court.

58-29B-125. Review, investigation and negotiation of claims by liquidator--Exception--Report to court.The liquidator shall review all claims duly filed in the liquidation and shall make such further investigation as he shall deem necessary. He may compound, compromise, or in any other manner negotiate the amount for which claims will be recommended to the court except where the liquidator is required by law to accept claims as settled by any person or organization, including any guaranty association or foreign guaranty association. Unresolved disputes shall be determined under §58-29B-119 or 58-29B-120. As soon as practicable, he shall present to the court a report of the claims against the insurer with his recommendations. The report shall include the name and address of each claimant and the amount of the claim finally recommended, if any. If the insurer has issued annuities or life insurance policies, the liquidator shall report the persons to whom, according to the records of the insurer, amounts are owed as cash surrender values or other investment value and the amounts owed. Source: SL 1989, ch 436, §125.
SD Codified L § 58-29B-126 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-126 - Court approval, disapproval, or modification of report.

58-29B-126. Court approval, disapproval, or modification of report.The court may approve, disapprove, or modify, the report on claims by the liquidator. Such reports as are not modified by the court within a period of sixty days following submission by the liquidator shall be treated by the liquidator as allowed claims, subject thereafter to later modification or to rulings made by the court pursuant to §§58-29B-119 and 58-29B-120. No claim under a policy of insurance may be allowed for an amount in excess of the applicable policy limits. Source: SL 1989, ch 436, §126.
SD Codified L § 58-29B-127 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-127 - Distributions by liquidator under court direction--Manner of payment.

58-29B-127. Distributions by liquidator under court direction--Manner of payment.Under the direction of the court, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and creditor and approved by the court. Source: SL 1989, ch 436, §127.
SD Codified L § 58-29B-128 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-128 - Disposition of unclaimed funds subject to distribution.

58-29B-128. Disposition of unclaimed funds subject to distribution.All unclaimed funds subject to distribution remaining in the liquidator's hands when he is ready to apply to the court for discharge, including the amount distributable to any creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the state treasurer, and shall be paid without interest except in accordance with §58-29B-123 to the person entitled thereto or his legal representative upon proof satisfactory to the state treasurer of his right thereto. Any amount on deposit not claimed within six years from the discharge of the liquidator shall be deemed to have been abandoned and shall be escheated without formal escheat proceedings and be deposited into the general fund. Source: SL 1989, ch 436, §128.
SD Codified L § 58-29B-129 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-129 - Disposition of funds not distributed.

58-29B-129. Disposition of funds not distributed.All funds withheld under §§58-29B-112 to 58-29B-114, inclusive, and not distributed shall upon discharge of the liquidator be deposited with the state treasurer and paid by him in accordance with §58-29B-123. Any sums remaining which under §58-29B-123 would revert to the undistributed assets of the insurer shall be transferred to the state treasurer and become the property of the state under §58-29B-128, unless the director in his discretion petitions the court to reopen the liquidation under §58-29B-131. Source: SL 1989, ch 436, §129.
SD Codified L § 58-29B-130 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-130 - Application for discharge.

58-29B-130. Application for discharge.If all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer to the state treasurer any remaining funds that are uneconomic to distribute, as may be deemed appropriate. Any other person may apply to the court at any time for an order under this section. If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee. Source: SL 1989, ch 436, §130.
SD Codified L § 58-29B-131 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-131 - Petition to reopen proceedings for good cause.

58-29B-131. Petition to reopen proceedings for good cause.After the liquidation proceeding has been terminated and liquidator discharged, the director or other interested party may at any time petition the court to reopen the proceedings for good cause, including the discovery of additional assets. If the court is satisfied that there is justification for reopening, it shall so order. Source: SL 1989, ch 436, §131.
SD Codified L § 58-29B-132 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-132 - Recommendation and direction for retention or disposal of insurer's records.

58-29B-132. Recommendation and direction for retention or disposal of insurer's records.If it appears to the director that the records of any insurer in process of liquidation or completely liquidated are no longer useful, he may recommend to the court and the court shall direct what records should be retained for future reference and what should be destroyed. Source: SL 1989, ch 436, §132.
SD Codified L § 58-29B-133 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-133 - Audits of receivership books.

58-29B-133. Audits of receivership books.The court may, as it considers desirable, cause audits to be made of the books of the director relating to any receivership established under this chapter, and a report of each audit shall be filed with the director and with the court. The books, records, and other documents of the receivership shall be made available to the auditor at any time without notice. The expense of each audit shall be considered a cost of administration of the receivership. Source: SL 1989, ch 436, §133.
SD Codified L § 58-29B-134 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-134 - Director's application to act as conservator--Grounds.

58-29B-134. Director's application to act as conservator--Grounds.If a domiciliary liquidator has not been appointed, the director may apply to the court by verified petition for an order directing him to act as conservator to conserve the property of an alien insurer not domiciled in this state or a foreign or alien insurer on any one or more of the following grounds:(1)Any of the grounds in §58-29B-31;(2)That any of its property has been sequestered by official action in its domiciliary state, or in any other state;(3)That enough of its property has been sequestered in a foreign country to give reasonable cause to fear that the insurer is or may become insolvent;(4)That its certificate of authority to do business in this state has been revoked or that none was ever issued and that there are residents of this state with outstanding claims or outstanding policies. Source: SL 1989, ch 436, §134.
SD Codified L § 58-29B-135 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-135 - Issuance of order allowing director to act as conservator--Filing--Notice imparted.

58-29B-135. Issuance of order allowing director to act as conservator--Filing--Notice imparted.The court may issue the order in whatever terms it deems appropriate. The filing or recording of the order with the clerk of the circuit court of Hughes County or the register of deeds of the county in which the principal business of the company is located or the county in which its principal office or place of business is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that register of deeds would have imparted. Source: SL 1989, ch 436, §135.
SD Codified L § 58-29B-136 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-136 - Petition to liquidate assets of foreign or alien insurer.

58-29B-136. Petition to liquidate assets of foreign or alien insurer.The conservator may at any time petition the court for an order under §§58-29B-138 to 58-29B-143, inclusive, to liquidate assets of a foreign or alien insurer under conservation, or, if appropriate, for an order under §§58-29B-145 to 58-29B-150, inclusive, to be appointed ancillary receiver. Source: SL 1989, ch 436, §136.
SD Codified L § 58-29B-137 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-137 - Termination of conservation of insurer.

58-29B-137. Termination of conservation of insurer.The conservator may at any time petition the court for an order terminating conservation of an insurer. If the court finds that the conservation is no longer necessary, it shall order that the insurer be restored to possession of its property and the control of its business. The court may also make such finding and issue such order at any time upon motion of any interested party, but if such motion is denied all costs shall be assessed against such party. Source: SL 1989, ch 436, §137.
SD Codified L § 58-29B-138 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-138 - Director's application to liquidate assets of foreign or alien insurer--Grounds.

58-29B-138. Director's application to liquidate assets of foreign or alien insurer--Grounds.If a domiciliary receiver has not been appointed, the director may apply to the circuit court of Hughes County by verified petition for an order directing him to liquidate the assets found in this state of a foreign insurer or an alien insurer or an alien insurer not domiciled in this state, on any of the following grounds:(1)Any of the grounds in §58-29B-31 or 58-29B-41; or(2)Any of the grounds specified in subdivisions 58-29B-134(2) to (4), inclusive. Source: SL 1989, ch 436, §138.
SD Codified L § 58-29B-139 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-139 - Notice of orders sought under § 58-29B-134 or 58-29B-138.

58-29B-139. Notice of orders sought under §58-29B-134 or 58-29B-138.If an order is sought under §58-29B-134 or 58-29B-138, the court shall cause the insurer to be given such notice and time to respond thereto as is reasonable under the circumstances. Source: SL 1989, ch 436, §139.
SD Codified L § 58-29B-140 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-140 - Order to liquidate in whatever terms court deems appropriate--Filing--Notice imparted.

58-29B-140. Order to liquidate in whatever terms court deems appropriate--Filing--Notice imparted.If it appears to the court that the best interests of creditors, policyholders, and the public require, the court may issue an order to liquidate in whatever terms it deems appropriate. The filing or recording of the order with the clerk of the circuit court of Hughes County or the register of deeds of the county in which the principal business of the company is located or the county in which its principal office or place of business is located, shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that register of deeds would have imparted. Source: SL 1989, ch 436, §140.
SD Codified L § 58-29B-141 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-141 - Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding--Duty to act as ancillary receiver.

58-29B-141. Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding--Duty to act as ancillary receiver.If a domiciliary receiver, conservator, or liquidator is appointed in a reciprocal state while a liquidation is proceeding under this section the liquidator under this section shall thereafter act as ancillary receiver under §§58-29B-145 to 58-29B-148, inclusive. If a domiciliary liquidator is appointed in a nonreciprocal state while a liquidation is proceeding under this section the liquidator may petition the court for permission to act as ancillary receiver under §§58-29B-145 to 58-29B-150, inclusive. Source: SL 1989, ch 436, §141; SL 2008, ch 271, §1.
SD Codified L § 58-29B-142 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation|Section 58-29B-142 - Director's application to act as receiver--Grounds.

58-29B-142. Director's application to act as receiver--Grounds.On the same grounds as are specified in §58-29B-138, the director may petition any appropriate federal district court to be appointed receiver to liquidate that portion of the insurer's assets and business over which that court will exercise jurisdiction, or any lesser part thereof that the director deems desirable for the protection of the policyholders and creditors in this state. Source: SL 1989, ch 436, §142.