South Dakota § 58-29B-83 - Conditions creating personal liability to liquidator for amount of preference.
Full text of South Dakota South Dakota Codified Laws § 58-29B-83 — Conditions creating personal liability to liquidator for amount of preference., with citation guidance and answers to common questions.
§ 58-29B-83. Conditions creating personal liability to liquidator for amount of preference.
Every officer, manager, employee, shareholder, member, subscriber, attorney, or any other person acting on behalf of the insurer who knowingly participates in giving any preference when he has reasonable cause to believe the insurer is or is about to become insolvent at the time of the preference shall be personally liable to the liquidator for the amount of the preference. Reasonable cause may be inferred if the transfer was made within four months before the date of filing of the successful petition for liquidation. Every person receiving any property from the insurer or the benefit thereof as a preference voidable under this section is personally liable therefore and shall be bound to account to the liquidator. Nothing in this section may prejudice any other claim by the liquidator.
Source: SL 1989, ch 436, § 83.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-29B-83
What does South Dakota Codified Laws § 58-29B-83 cover?
Section 58-29B-83 ("Conditions creating personal liability to liquidator for amount of preference.") 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-83?
A common citation format is "South Dakota Codified Laws § 58-29B-83" (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-83 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.