Notwithstanding the powers of the liquidator as stated in §§ 58-29B-47 and 58-29B-50, the liquidator has no obligation to defend claims or to continue to defend claims subsequent to the entry of a liquidation order.

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Terms Used In South Dakota Codified Laws 58-29B-50.1

  • 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.

Source: SL 1992, ch 351, § 8.