South Dakota § 58-29B-41 - Petition for liquidation--Grounds.
Full text of South Dakota South Dakota Codified Laws § 58-29B-41 — Petition for liquidation--Grounds., with citation guidance and answers to common questions.
§ 58-29B-41. Petition for liquidation--Grounds.
The director may petition the court for an order directing him to liquidate a domestic insurer or an alien insurer domiciled in this state based on the following:
(1) Any ground for an order of rehabilitation as specified in § 58-29B-31, whether or not there has been a prior order directing the rehabilitation of the insurer;
(2) The insurer is insolvent; or
(3) The insurer is in such condition that the further transaction of business would be hazardous, financially or otherwise, to its policyholders, its creditors or the public.
Source: SL 1989, ch 436, § 41.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-29B-41
What does South Dakota Codified Laws § 58-29B-41 cover?
Section 58-29B-41 ("Petition for liquidation--Grounds.") 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-41?
A common citation format is "South Dakota Codified Laws § 58-29B-41" (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-41 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.