South Dakota Codified Laws 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;
Terms Used In South Dakota Codified Laws 58-29B-51
- Doing business: includes , but is not limited to, any of the following acts, whether effected by mail or otherwise:
(a) The issuance or delivery of contracts of insurance to persons resident in this state. See South Dakota Codified Laws 58-29B-3
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(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.