South Dakota Codified Laws 58-29B-37. Petition for appointment of rehabilitator–Suspension of statute of limitations, laches–Time period for commencement of actions ripe when petition is filed
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No statute of limitations or defense of laches may run with respect to any action by or against an insurer between the filing of a petition for appointment of a rehabilitator for that insurer and the order granting or denying that petition. Any action by or against the insurer that might have been commenced when the petition was filed may be commenced for at least sixty days after the order of rehabilitation is entered or the petition is denied.
Terms Used In South Dakota Codified Laws 58-29B-37
- Statute of limitations: A law that sets the time within which parties must take action to enforce their rights.
Source: SL 1989, ch 436, § 37.