South Dakota Codified Laws 58-6-37. Deposit of title insurer as guaranty fund–Purpose
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The deposit shall be known as a “guaranty fund,” and shall be held as security for the faithful performance by the insurer of all its undertakings and liabilities under its title policies or other guarantees of title to property, but shall not be subject to any other liabilities of the insurer.
Terms Used In South Dakota Codified Laws 58-6-37
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1966, ch 111, ch 3, § 14 (2).