South Dakota Codified Laws 58-29B-129. Disposition of funds not distributed
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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.
Terms Used In South Dakota Codified Laws 58-29B-129
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
- State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
Source: SL 1989, ch 436, § 129.