South Dakota § 58-29B-35 - Rehabilitator's plan for transformation--Application and grounds for approval--Procedure upon approval.
Full text of South Dakota South Dakota Codified Laws § 58-29B-35 — Rehabilitator's plan for transformation--Application and grounds for approval--Procedure upon approval., with citation guidance and answers to common questions.
§ 58-29B-35. Rehabilitator's plan for transformation--Application and grounds for approval--Procedure upon approval.
If the rehabilitator determines that reorganization, consolidation, conversion, reinsurance, merger, sale, or other transformation of the insurer is appropriate, he shall prepare a plan to effect such changes. Upon application of the rehabilitator for approval of the plan, and after such notice and hearings as the court may prescribe, the court may either approve or disapprove the plan proposed, or may modify it and approve it as modified. Any plan approved under this section shall be, in the judgment of the court, fair and equitable to all parties concerned. If the plan is approved, the rehabilitator shall carry out the plan. In the case of a life insurer, the plan proposed may include the imposition of liens upon the policies of the company, if all rights of shareholders are first relinquished. A plan for a life insurer may also propose imposition of a moratorium upon loan and cash surrender rights under policies, for such period and to such an extent as may be necessary. The rehabilitator may under §§ 58-29B-61 to 58-29B-65, inclusive, avoid fraudulent transfers.
Source: SL 1989, ch 436, § 35; SL 1991, ch 404, § 4.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-29B-35
What does South Dakota Codified Laws § 58-29B-35 cover?
Section 58-29B-35 ("Rehabilitator's plan for transformation--Application and grounds for approval--Procedure upon approval.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-29B-35?
A common citation format is "South Dakota Codified Laws § 58-29B-35" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-29B-35 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.