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§ 58-29B-51 Notice of liquidation order.

SD Codified L § 58-29B-51 (2019) (N/A)
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58-29B-51. Notice of liquidation order. Unless the court otherwise directs, the liquidator shall give notice of the liquidation order as soon as possible but in no event more than ten days from the date of entry of the order to liquidate:

(1) By first class mail or by telegram or telephone to the insurance director of each jurisdiction in which the insurer is doing business;

(2) By first class mail to any guaranty association or foreign guaranty association which is or may become obligated as a result of the liquidation;

(3) By first class mail to any insurance producer of the insurer;

(4) By first class mail to any person known or reasonably expected to have claims against the insurer including any policyholder, at the person's last known address as indicated by the records of the insurer; and

(5) By publication in a newspaper of general circulation in the county in which the insurer has its principal place of business and in such other locations as the liquidator considers appropriate.Source: SL 1989, ch 436, § 51; SL 2001, ch 286, § 144.

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§ 58-29B-52 Duties of claimant upon notice of liquidation.