South Dakota Codified Laws 58-7-35. Return of deposit of foreign insurer
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The director shall direct the depository or custodian to return to a foreign insurer any deposit made pursuant to this title by the insurer, if:
(1) The insurer has ceased transacting business in this state, or in the United States, and the insurer is not subject to any liability in this state on account of which the deposit was held; or
Terms Used In South Dakota Codified Laws 58-7-35
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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
(2) The deposit is no longer required by any provision of law; or
(3) The insurer, during its solvency has made a similar deposit in another state and has filed with the director the certificate or evidence thereof, under the conditions provided for in subdivisions 58-6-34(1) and (2).
Source: SL 1966, ch 111, ch 7, § 14 (3); SL 1991, ch 398, § 17.