Section 58-5-139 - Liquidation of domestic mutual insurer--Distribution of remaining assets tomembers. - South-dakota Statutes

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58-5-139. Liquidation of domestic mutual insurer--Distribution of remaining assets to members. Upon any liquidation of a domestic mutual insurer, its assets remaining after liquidation of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, and expenses of administration, shall be distributed to existing persons who were its members at any time within thirty-six months next preceding the date such liquidation was authorized or ordered, or date of last termination of the insurer's certificate of authority, whichever date is the earlier.

Source: SL 1966, ch 111, ch 16, § 42 (1).

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-139

58-5-139. Liquidation of domestic mutual insurer--Distribution of remaining assets to members. Upon any liquidation of a domestic mutual insurer, its assets remaining after liquidation of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, and expenses of administration, shall be distributed to existing persons who were its members at any time within thirty-six months next preceding the date such liquidation was authorized or ordered, or date of last termination of the insurer's certificate of authority, whichever date is the earlier.

Source: SL 1966, ch 111, ch 16, § 42 (1).

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-05 > Statute-58-5-139

58-5-139. Liquidation of domestic mutual insurer--Distribution of remaining assets to members. Upon any liquidation of a domestic mutual insurer, its assets remaining after liquidation of its indebtedness, policy obligations, repayment of contributed or borrowed surplus, if any, and expenses of administration, shall be distributed to existing persons who were its members at any time within thirty-six months next preceding the date such liquidation was authorized or ordered, or date of last termination of the insurer's certificate of authority, whichever date is the earlier.

Source: SL 1966, ch 111, ch 16, § 42 (1).