58-35-50. Directors' and officers' liability for failure to pay claims.
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/sd/title-58/chapter-58-35/58-35-50·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The directors or officers of an insurer are liable in their individual capacity to the person sustaining an insured loss, if they willfully refuse or neglect to make an assessment and collect the obligations owing to the insurer in accordance with the provisions of this chapter.