South Dakota Codified Laws 58-29B-147. Domiciliary receiver, conservator, or liquidator appointed for alien insurer–Appointment as ancillary receiver
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If a domiciliary receiver, conservator, or liquidator has been appointed for an insurer not domiciled in this state, the director may file a petition with the circuit court of Hughes County requesting appointment as ancillary receiver in this state:
(1) If the director finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver; or
Terms Used In South Dakota Codified Laws 58-29B-147
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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) If the protection of creditors or policyholders in this state so requires.
Source: SL 1989, ch 436, § 147; SL 2008, ch 271, § 4.