Chapter 29B - Insurers Supervision, Rehabilitation And Liquidation

§ 58-29B-1 Citation of chapter.
§ 58-29B-2 Scope.
§ 58-29B-3 Definition of terms.
§ 58-29B-4 Delinquency proceedings sole and exclusive remedy--Commencement of proceedings by director.
§ 58-29B-5 Commencement of proceedings despite lack of notice to insurer.
§ 58-29B-6 Grounds for personal jurisdiction.
§ 58-29B-7 Venue of proceedings.
§ 58-29B-8 Receiver authorized to grant certain orders.
§ 58-29B-9 Persons to cooperate in proceedings and preliminary investigations.
§ 58-29B-10 Obstruction or interference in conduct of proceedings.
§ 58-29B-11 Failure to cooperate--Obstruction or interference--Penalty.
§ 58-29B-12 Directors and deputies responsible for official bonds--Source of payment.
§ 58-29B-13 Proceedings commenced prior to enactment of chapter.
§ 58-29B-13.1 Service of appropriate orders by director.
§ 58-29B-14 Director's determination of continuation of business hazardous--Notification of insurer.
§ 58-29B-15 Supervision of insurer--Appointment of supervisor--Certain acts by insurer prohibited--Costs.
§ 58-29B-16 Insurer to comply with director's requirements--Time period--Failure to comply.
§ 58-29B-17 Hearings--Notice and procedure.
§ 58-29B-18 Request for hearing--Request not to stay order.
§ 58-29B-19 Waiver of hearing--Application for judicial relief--Judicial review of order after hearing.
§ 58-29B-20 Requests for review of supervisor's actions.
§ 58-29B-21 Violation of supervision order--Penalty.
§ 58-29B-22 Application for necessary orders to enforce supervision order.
§ 58-29B-23 Violation of valid orders--Personal liability for losses suffered by insurer--Commencement of action.
§ 58-29B-24 Authority to file petition for seizure order--Grounds.
§ 58-29B-25 Ex parte issuance of seizure order--Costs.
§ 58-29B-26 Duration of order--Hearing to extend, shorten or modify--Vacation of order.
§ 58-29B-27 Entry of order not anticipatory breach of insurer's contracts.
§ 58-29B-28 Petition for review of order--Procedure.
§ 58-29B-29 Notice to persons not present at hearing--Effect on previously issued order.
§ 58-29B-30 Records to remain confidential--Exceptions.
§ 58-29B-31 Application by director for rehabilitation of insurer--Grounds.
§ 58-29B-32 Order of rehabilitation--Contents--Effect of filing or recording--Vesting of title--Accounting required.
§ 58-29B-32.1 Appointment of deputies--Powers and responsibilities--Employment of counsel, clerks and assistants--Compensation--Advisory committee.
§ 58-29B-32.2 Promulgation of rules for appointing committees.
§ 58-29B-33 Authority of rehabilitator to reform and revitalize issuer.
§ 58-29B-34 Authority to pursue legal remedies on insurer's behalf.
§ 58-29B-35 Rehabilitator's plan for transformation--Application and grounds for approval--Procedure upon approval.
§ 58-29B-36 Disposition of actions in which insurer a party pending when rehabilitation order entered.
§ 58-29B-37 Petition for appointment of rehabilitator--Suspension of statute of limitations, laches--Time period for commencement of actions ripe when petition is filed.
§ 58-29B-38 Guaranty associations--Standing to appear in rehabilitation proceedings.
§ 58-29B-39 Rehabilitation futile--Petition for liquidation--Effect--Court to permit directors or insurers to defend.
§ 58-29B-40 Termination of rehabilitation--Procedure--Payment of costs.
§ 58-29B-41 Petition for liquidation--Grounds.
§ 58-29B-42 Order of liquidation--Contents--Title vested in liquidator--Effect of filing or recording.
§ 58-29B-42.1 Plan for continued performance of policy claim obligations during appeal of liquidation order.
§ 58-29B-43 Rights and liabilities fixed upon issuance of order.
§ 58-29B-44 Order to liquidate alien insurer domiciled in state--Effect.
§ 58-29B-45 Declaration of insurer's insolvency--Procedure.
§ 58-29B-46 Order of liquidation--Financial reports required--Annual filing.
§ 58-29B-47 Effect of order upon policies in effect at time of issuance.
§ 58-29B-48 Order to dissolve corporate existence--Procedure.
§ 58-29B-49 Powers of liquidator.
§ 58-29B-50 Enumeration in § 58-29B-49 not exclusive.
§ 58-29B-50.1 Obligations of liquidator subsequent to entry of liquidation order.
§ 58-29B-51 Notice of liquidation order.
§ 58-29B-52 Duties of claimant upon notice of liquidation.
§ 58-29B-53 Duties of insurance producer upon notice of liquidation.
§ 58-29B-54 Failure of insurance producer to comply with § 58-29B-53--Penalty--Liquidator's waiver of duties.
§ 58-29B-55 Appointment of liquidator--Effect upon actions and injunctions pending against insurer or liquidator--Liquidator's right to intervene.
§ 58-29B-56 Time periods in which liquidator may act for or institute action on behalf of insurer.
§ 58-29B-57 Petition for liquidation--Suspension of statute of limitations, laches--Time period for commencement of actions ripe when petition filed.
§ 58-29B-58 Guaranty associations--Standing to appear in liquidation proceedings.
§ 58-29B-59 Liquidator to prepare list of insurer's assets--Filing requirements.
§ 58-29B-60 Reduction of assets to appropriate degree.
§ 58-29B-61 Fraudulent transfers--Avoidance by receiver--Acceptance or preservation of transfer.
§ 58-29B-61.1 Liability of beneficiary of fraudulent transfer.
§ 58-29B-62 Fraudulent transfers between insurer and reinsurer--Grounds for avoidance by receiver.
§ 58-29B-63 Transfers of insurer's real property after petition filed--Recording of copy of petition as constructive notice.
§ 58-29B-64 Validity of transfers after petitions filed and before receiver takes possession or order granted.
§ 58-29B-65 No impairment of negotiability.
§ 58-29B-66 Preference defined.
§ 58-29B-67 Preference--Avoidance by liquidator.
§ 58-29B-68 Preference voidable--Consequences.
§ 58-29B-69 When transfer of property other than real property deemed made or suffered.
§ 58-29B-70 When transfer of real property deemed made or suffered.
§ 58-29B-71 Transfer creating equitable lien--Conditions prohibiting perfection.
§ 58-29B-72 Transfer not perfected prior to filing of petition deemed made before filing of successful petition.
§ 58-29B-73 Sections 58-29B-69 to 58-29B-72 applicable despite certain creditors or potential bona fide purchasers.
§ 58-29B-74 Lien obtainable by legal or equitable proceedings--Simple contract--Exclusions.
§ 58-29B-75 Lien by legal or equitable proceedings--Superiority to rights of transferee.
§ 58-29B-76 Transfer for or on account of new and contemporaneous consideration--Transfer to secure future loan--Effects.
§ 58-29B-77 Voidable lien dissolved--Indemnifying transfer or lien deemed voidable.
§ 58-29B-78 Property affected by voidable lien discharge--That and indemnifying property pass to liquidator--Exception.
§ 58-29B-79 Summary jurisdiction of Hughes county circuit court--Notice--Valuation of certain property or liens--Election of transferee or lienholder.
§ 58-29B-80 Extent of surety discharge under releasing bond or similar obligation.
§ 58-29B-81 Preferred creditor--Setoff for new credit issued in good faith.
§ 58-29B-82 Transfers by insurer to attorney for services within four months of filing petition--Examination by court.
§ 58-29B-83 Conditions creating personal liability to liquidator for amount of preference.
§ 58-29B-84 Claims of creditor who has received or acquired a voidable preference, lien, conveyance, transfer, assignment, or encumbrance.
§ 58-29B-85 Filing of claims under § 58-29B-84.
§ 58-29B-86 Mutual debts or credits between insurer and another set off.
§ 58-29B-87 Setoff or counterclaim not allowed.
§ 58-29B-88 Liquidator's report to court--Time limit--Content.
§ 58-29B-89 Court to levy assessments--Amount.
§ 58-29B-90 Issuance of show cause order upon failure to pay assessment.
§ 58-29B-91 Notice of show cause order.
§ 58-29B-92 Failure to appear and serve objections on or before return day of order--Procedure on timely appearance.
§ 58-29B-93 Enforcement of order or judgment under § 58-29B-92.
§ 58-29B-94 No reductions in amounts recoverable from reinsurers--Exception--Payments.
§ 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-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-96 Course of action upon violation of § 58-29B-95--Director's options.
§ 58-29B-97 Notice and hearings required before impositions of penalties.
§ 58-29B-98 Application for approval of proposal to disburse assets.
§ 58-29B-99 Proposal to disburse assets--Contents.
§ 58-29B-100 Amounts for disbursements to associations.
§ 58-29B-101 Insolvent insurer writing life or health insurance or annuities--Liquidator to include disbursements to guaranty in proposal.
§ 58-29B-102 Notice of application for approval of proposal.
§ 58-29B-103 Filing proof of claims--Exceptions.
§ 58-29B-104 Circumstances under which claimant making late filing may share in distributions.
§ 58-29B-105 Certain late filing claims of guaranty association--Right to share in distributions.
§ 58-29B-106 Treatment of late claims not covered by § 58-29B-104.
§ 58-29B-107 Proof of claim--Contents.
§ 58-29B-108 Failure to provide necessary information--Liquidator may require prescribed forms and additional information.
§ 58-29B-109 Liquidator may request or otherwise obtain additional information or evidence.
§ 58-29B-110 Judgment or order not evidence of liability or quantum of damages.
§ 58-29B-111 Claims of guaranty associations--Form and content.
§ 58-29B-112 Third party's claim contingent on judgment against insured--Consideration.
§ 58-29B-113 Contingent claims allowed.
§ 58-29B-114 Treatment of claims due except for passage of time.
§ 58-29B-115 Claims made under employment contracts by directors or similar personnel--Limit on payment.
§ 58-29B-116 Third party claim against insured of insurer in liquidation filed with liquidator--Insured's filing--Late filing.
§ 58-29B-117 Allowance of insured's claim--Liquidator's recommendations to court--Sums withheld--Procedures upon allowance.
§ 58-29B-118 Several claims founded upon one policy--Disposition--Prohibited claims.
§ 58-29B-119 Liquidator to give written notice of denial of claim--Objections.
§ 58-29B-120 Hearing upon objections--Notice--Referee may conduct.
§ 58-29B-121 Creditor's claim secured by "other person"--Subrogation--Right to distribution.
§ 58-29B-122 Valuation of security held by secured creditor.
§ 58-29B-123 Valuation made under supervision of court--Treatment of deficiency and surrender of security.
§ 58-29B-124 Priority and order of distribution of claims from insurer's estate.
§ 58-29B-125 Review, investigation and negotiation of claims by liquidator--Exception--Report to court.
§ 58-29B-126 Court approval, disapproval, or modification of report.
§ 58-29B-127 Distributions by liquidator under court direction--Manner of payment.
§ 58-29B-128 Disposition of unclaimed funds subject to distribution.
§ 58-29B-129 Disposition of funds not distributed.
§ 58-29B-130 Application for discharge.
§ 58-29B-131 Petition to reopen proceedings for good cause.
§ 58-29B-132 Recommendation and direction for retention or disposal of insurer's records.
§ 58-29B-133 Audits of receivership books.
§ 58-29B-134 Director's application to act as conservator--Grounds.
§ 58-29B-135 Issuance of order allowing director to act as conservator--Filing--Notice imparted.
§ 58-29B-136 Petition to liquidate assets of foreign or alien insurer.
§ 58-29B-137 Termination of conservation of insurer.
§ 58-29B-138 Director's application to liquidate assets of foreign or alien insurer--Grounds.
§ 58-29B-139 Notice of orders sought under § 58-29B-134 or 58-29B-138.
§ 58-29B-140 Order to liquidate in whatever terms court deems appropriate--Filing--Notice imparted.
§ 58-29B-141 Domiciliary receiver, conservator, or liquidator appointed while liquidation proceeding--Duty to act as ancillary receiver.
§ 58-29B-142 Director's application to act as receiver--Grounds.
§ 58-29B-143 Payment of resident's claims against foreign or alien insurer.
§ 58-29B-144 Domiciliary receiver, conservator, or liquidator of insurer domiciled in reciprocal state--Title vested--Date of vesting.
§ 58-29B-145 Domiciliary liquidator for insurer not domiciled in reciprocal state--Title vested--Timing--Petition for conservation or liquidation.
§ 58-29B-146 Resident claimants--With whom and when to file.
§ 58-29B-147 Domiciliary receiver, conservator, or liquidator appointed for alien insurer--Appointment as ancillary receiver.
§ 58-29B-148 Court may appoint ancillary receiver on terms deemed appropriate--Filing--Notice imparted.
§ 58-29B-149 Duties and powers of ancillary receiver when domiciliary receiver, conservator, or liquidator appointed in reciprocal state.
§ 58-29B-150 Duties and powers of ancillary receivers, conservators, or liquidators when domiciliary liquidator appointed in this state.
§ 58-29B-151 Director may institute proceedings under §§ 58-29B-13 to 58-29B-30.
§ 58-29B-152 Liquidation proceeding against insurer domiciled in state--Claimants residing in foreign countries or states not reciprocal--Filing.
§ 58-29B-153 Proof of claims of residents in reciprocal states.
§ 58-29B-154 Proceeding in reciprocal state against domiciled insurer--Filing.
§ 58-29B-155 Proof of claims of South Dakota residents--Elections--Procedure.
§ 58-29B-156 Final allowance by state courts conclusive as to amount and priority.
§ 58-29B-157 Attachment, garnishment, levy of execution prohibited during receivership, conservatorship, or liquidation proceedings.
§ 58-29B-158 Domiciliary state's order of distribution controls claims of residents of this and reciprocal states.
§ 58-29B-159 Owners of special deposit claims--Priority--Deficiencies in deposit.
§ 58-29B-160 Owner of secured claim--Elections.
§ 58-29B-161 Ancillary receiver's failure to transfer certain assets.