58-23-2. Bankruptcy or insolvency of assured--Insurer not released from liability.
No liability insurance policy issued in this state shall contain any requirement for the payment of liability or loss under the policy, by the assured, but all such policies shall provide in substance that the bankruptcy or insolvency of the assured shall not release the insurer from liability.
Source: SL 1966, ch 111, ch 32, ยง2.
Structure South Dakota Codified Laws
Chapter 23 - Liability Insurance
Section 58-23-1 - Action against insurer by injured party where execution returned unsatisfied.
Section 58-23-2 - Bankruptcy or insolvency of assured--Insurer not released from liability.
Section 58-23-4 - Primary and excess coverage on vehicle loaned by automobile service agency.
Section 58-23-5 - Effective date of vehicle coverage provisions.
Section 58-23-6 - Supplemental automobile coverage--Definition of terms.
Section 58-23-7 - Supplemental coverage to be offered with automobile liability policy.
Section 58-23-8 - Accident, disability, and medical benefits included in supplemental coverage.