South Dakota § 58-30-128 - Settling claims--Content of contract.
Full text of South Dakota South Dakota Codified Laws § 58-30-128 — Settling claims--Content of contract., with citation guidance and answers to common questions.
§ 58-30-128. Settling claims--Content of contract.
If the managing general agent may settle claims on behalf of the insurer, the following shall be included in the contract:
(1) All claims shall be reported to the company in a timely manner;
(2) A copy of the claim file shall be sent to the insurer at its request or as soon as it becomes known that the claim:
(a) Involves a coverage dispute;
(b) May exceed the managing general agent's claims settlement authority;
(c) Is open for more than six months; or
(d) Is closed by payment of an amount set by the company;
(3) All claim files are the joint property of the insurer and managing general agent. Upon an order of liquidation of the insurer, the files shall become the sole property of the insurer or its estate and the managing general agent shall have reasonable access to and the right to copy the files on a timely basis;
(4) Any settlement authority granted to the managing general agent may be terminated for cause upon the insurer's written notice to the managing general agent or upon the termination of the contract. The insurer may suspend the settlement authority during the pendency of any dispute regarding the cause for termination;
(5) The claims settlement authority and limitations of the managing general agent.
The director may initially and at least annually review the amount for settling claims or payment of claims and direct the amount be changed.
Source: SL 1992, ch 353, § 5.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-30-128
What does South Dakota Codified Laws § 58-30-128 cover?
Section 58-30-128 ("Settling claims--Content of contract.") 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 § 58-30-128?
A common citation format is "South Dakota Codified Laws § 58-30-128" (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 § 58-30-128 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.