South Dakota Codified Laws 58-29B-57. Petition for liquidation–Suspension of statute of limitations, laches–Time period for commencement of actions ripe when petition filed
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No statute of limitations or defense of laches may run with respect to any action against an insurer between the filing of a petition for liquidation against an insurer and the denial of the petition. Any action against the insurer that might have been commenced when the petition was filed may be commenced for at least sixty days after the petition is denied.
Terms Used In South Dakota Codified Laws 58-29B-57
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
Source: SL 1989, ch 436, § 57.