South Dakota Codified Laws 58-29A-93. Duplicate coverage–Insured to exhaust rights against solvent insurer
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Any person having a claim against an insurer, whether or not the insurer is a member insurer, under any provision in an insurance policy other than a policy of an insolvent insurer which is also a covered claim, shall be required to first exhaust any right under the policy. Any amount payable on a covered claim under this chapter shall be reduced by the amount of any recovery under the insurance policy.
Terms Used In South Dakota Codified Laws 58-29A-93
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 2000, ch 247, § 40.