58-29B-88. Liquidator's report to court--Time limit--Content.
105 words·~1 min read·
/sd/title-58/chapter-58-29/58-29b-88·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As soon as practicable, but not more than two years from the date of an order of liquidation under §§ 58-29B-41 to 58-29B-45 , inclusive, of an insurer issuing assessable policies, the liquidator shall make a report to the court setting forth:
(1)The reasonable value of the assets of the insurer;
(2)The insurer's probable total liabilities;
(3)The probable aggregate amount of the assessment necessary to pay all claims of creditors and expenses in full, including expenses of administration and costs of collecting the assessment; and
(4)A recommendation as to whether or not an assessment should be made and in what amount.