<html> <head> <title>Rule 20:06:36:28 Foreign insurers and health organizations -- Mandatory control level event.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:36:28"> <META NAME="Description" Content="Administrative Rules 20:06:36:28 Foreign insurers and health organizations -- Mandatory control level event."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 14 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; text-align:justify; font-size:12.0pt; font-family:"Times New Roman","serif";} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US> <div class=WordSection1> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:06:36:28.&nbsp;&nbsp;Foreign insurers and health organizations -- Mandatory control level event.</b> If a mandatory control level event occurs for any foreign insurer or foreign health organization and no domiciliary receiver has been appointed for the foreign insurer or foreign health organization under the rehabilitation and liquidation statute applicable in the state of domicile of the foreign insurer or foreign health organization, the director may apply to the circuit court of Hughes County, as permitted under SDCL chapter <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-29B">58-29B</A>, for the liquidation of property of foreign insurers or foreign health organizations found in this state. The occurrence of the mandatory control level event is adequate grounds for the application.</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 23 SDR 228, effective July 3, 1997; 41 SDR 93, effective December 3, 2014.</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-4-48">58-4-48.</A></p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-4-48">58-4-48.</A></p> <p class=MsoNormal>&nbsp;</p> </div> </body> </html>