South Dakota Codified Laws
Chapter 29C - Life And Health Insurance Guaranty Association
Section 58-29C-47 - Construction of chapter.

58-29C-47. Construction of chapter.
This chapter shall be construed to effect the purpose under §58-29C-45.

Source: SL 2003, ch 252, §4.

Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 58 - Insurance

Chapter 29C - Life And Health Insurance Guaranty Association

Section 58-29C-44 - Short title.

Section 58-29C-45 - Purpose of chapter--Creation of association.

Section 58-29C-46 - Persons provided with coverage--Policies and portions of policies not covered.

Section 58-29C-47 - Construction of chapter.

Section 58-29C-48 - Definitions.

Section 58-29C-49 - Continuation of association--Membership--Function and organization--Accounts--Supervision--Meetings.

Section 58-29C-50 - Board of directors--Appointment and term--Vacancies--Compensation.

Section 58-29C-51 - Impaired or insolvent member--Actions authorized.

Section 58-29C-52 - Funding provided by assessment of members--Classification of assessments--Amounts of assessments--Abatements--Refunds.

Section 58-29C-53 - Plan of operation--Effective date--Requirements--Delegation of powers.

Section 58-29C-54 - Duties and powers of director.

Section 58-29C-55 - Detection and prevention of insurer insolvencies or impairments--Reports by board.

Section 58-29C-56 - Member assessment as offset against premium tax liability.

Section 58-29C-57 - Liability for unpaid assessment--Records of meetings--Association as creditor of impaired or insolvent insurer--Liquidation, rehabilitation, or conservation proceedings.

Section 58-29C-58 - Association subject to regulation by director--Financial report.

Section 58-29C-59 - Association's tax exemption status.

Section 58-29C-60 - No liability for performance of powers and duties of association or its members.

Section 58-29C-61 - Stay of proceedings against insolvent insurer--Default judgment set aside.

Section 58-29C-62 - Use of existence of association for sales, solicitation, or inducement to purchase insurance prohibited--Summary document of purposes and limitations of chapter--Disclaimer.