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Code · South Dakota · Title 58 · Chapter 58-29

58-29B-159. Owners of special deposit claims--Priority--Deficiencies in deposit.

111 words·~1 min read·/sd/title-58/chapter-58-29/58-29b-159·

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

The owners of special deposit claims against an insurer for which a liquidator is appointed in this or any other state has priority against the special deposits in accordance with the statutes governing the creation and maintenance of the deposits. If there is a deficiency in any deposit, so that the claims secured by it are not fully discharged from it, the claimants may share in the general assets, but the sharing shall be deferred until general creditors, and also claimants against other special deposits who have received smaller percentages from their respective special deposits, have been paid percentages of their claims equal to the percentage paid from the special deposit.
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