South Dakota § 58-29B-56 - Time periods in which liquidator may act for or institute action on behalf of insurer.
Full text of South Dakota South Dakota Codified Laws § 58-29B-56 — Time periods in which liquidator may act for or institute action on behalf of insurer., with citation guidance and answers to common questions.
§ 58-29B-56. Time periods in which liquidator may act for or institute action on behalf of insurer.
The liquidator may, upon or after an order for liquidation, within two years or such time in addition to two years as applicable law may permit, institute an action or proceeding on behalf of the estate of the insurer upon any cause of action against which the statute of limitations has not expired at the time of the filing of the petition upon which such order is entered. If, by any agreement, a period of limitation is fixed for instituting a suit or proceeding upon any claim, or for filing any claim, proof of claim, proof of loss, demand, notice, or the like, or where in any proceeding, judicial or otherwise, a period of limitation is fixed, either in the proceeding or by applicable law, for taking any action, filing any claim or pleading, or doing any act, and where in any such case the period had not expired at the date of the filing of the petition, the liquidator may, for the benefit of the estate, take any such action or do any such act, required of or permitted to the insurer, within a period of one hundred eighty days subsequent to the entry of an order for liquidation, or within such further period as is shown to the satisfaction of the court not to be unfairly prejudicial to the other party.
Source: SL 1989, ch 436, § 56.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-29B-56
What does South Dakota Codified Laws § 58-29B-56 cover?
Section 58-29B-56 ("Time periods in which liquidator may act for or institute action on behalf of insurer.") 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-56?
A common citation format is "South Dakota Codified Laws § 58-29B-56" (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-56 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.