South Dakota Codified Laws 58-20-9. Lien of worker upon amount due under policy–Inability of insured, direct paymentby insurer to worker, agents, and dependents
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Every policy shall provide that the worker shall have a first lien upon any amount becoming due on account of such policy to the insured from the insurer, and that in case of the legal incapacity, inability, or disability of the insured to receive the amount due and pay it over to the insured worker, or his dependents, such insurer shall pay the same directly to such worker, his agent, or to a trustee for him or his dependents, to the extent of discharging any obligation of the insured and to such worker or his dependents.
Terms Used In South Dakota Codified Laws 58-20-9
- Lien: A claim against real or personal property in satisfaction of a debt.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Trustee: A person or institution holding and administering property in trust.
Source: SL 1966, ch 111, ch 29, § 9.