58-29A-77. Apportionment of assessments among members--Notice of assessment.
The assessments of each member insurer shall be in the proportion that the net direct written premiums of the member insurer for the preceding calendar year on the kinds of insurance in the account bears to the net direct written premiums of all member insurers for the preceding calendar year on the kinds of insurance in the account. The assessment is due not less than thirty days after prior written notice to the member insurer and shall accrue interest at ten percent per annum on and after the due date.
Source: SL 2000, ch 247, ยง24.
Structure South Dakota Codified Laws
Chapter 29A - Insurance Guaranty Association
Section 58-29A-54 - Scope of application of chapter.
Section 58-29A-55 - Definition of terms.
Section 58-29A-56 - Creation of association--Membership--Exercise of powers.
Section 58-29A-57 - Board of directors--Appointment and terms of members--Vacancies on board.
Section 58-29A-58 - Representation of member insurers on board--Domestic insurers.
Section 58-29A-59 - Reimbursement of director's expenses.
Section 58-29A-60 - General corporate powers of association.
Section 58-29A-61 - Tax exemption of association.
Section 58-29A-62 - Notice to director of indications of member insolvency.
Section 58-29A-64 - Insolvency or hazardous condition reported to board of directors.
Section 58-29A-65 - Recommendations for detection and prevention of insolvencies.
Section 58-29A-66 - Recommendations on improving regulation for solvency.
Section 58-29A-67 - Report by directors on history and causes of insolvency.
Section 58-29A-69 - Association deemed insurer to extent of obligations on covered claims.
Section 58-29A-71 - Transfer or recovery of claim from certain covered persons.
Section 58-29A-72 - Means of handling claims--Designation of servicing facility.
Section 58-29A-73 - Reimbursement of servicing facility--Payment of other expenses.
Section 58-29A-74 - Separate accounts for administration and assessment.
Section 58-29A-76 - Administrative assessments for operating expenses.
Section 58-29A-77 - Apportionment of assessments among members--Notice of assessment.
Section 58-29A-78 - Maximum assessment in relation to net premiums.
Section 58-29A-79 - Offset of payments and expenses against assessment due.
Section 58-29A-80 - Exemption or deferment of assessments to avoid impairment of capital or surplus.
Section 58-29A-81 - Proration of payments when assets insufficient for full payment.
Section 58-29A-82 - Refund of surplus to member insurers.
Section 58-29A-83 - Plan of operation submitted to director--Approval.
Section 58-29A-84 - Required contents of plan of operation.
Section 58-29A-85 - Compliance with plan of operation--Violation as misdemeanor.
Section 58-29A-87 - Director's rules promulgated in lieu of amendments to plan of operation.
Section 58-29A-88 - Notice to association of insolvency of insurer.
Section 58-29A-89 - Statement of members' premiums furnished to association.
Section 58-29A-92 - Revocation of designation of servicing facility.
Section 58-29A-93 - Duplicate coverage--Insured to exhaust rights against solvent insurer.
Section 58-29A-94 - Duplicate coverage by insolvent insurers--Factors governing primary recovery.
Section 58-29A-95 - Subrogation of association to rights of claimant.
Section 58-29A-96 - Restrictions on liability of insured to association.
Section 58-29A-97 - Liability of insureds for unpaid assessments.
Section 58-29A-99 - Association's statements of claims paid filed with receiver or liquidator.
Section 58-29A-100 - Examination and regulation of association--Annual report.
Section 58-29A-101 - Immunity from liability of persons acting under chapter.
Section 58-29A-102 - Judicial review of director's actions.
Section 58-29A-103 - Premiums to include amounts sufficient for assessments.
Section 58-29A-104 - Unfair trade practice to advertise protection given by chapter.
Section 58-29A-105 - Payment of claims to be made in any reasonable order.
Section 58-29A-107 - Insolvent insurer's records to be made available to board.
Section 58-29A-108 - Jurisdiction over claims against association.