58-34-63Failure to make up deficiency--Insurer deemed insolvent.

If the attorney fails to make up the deficiency described in § 58-34-62 or to make the assessment within thirty days after the director orders him to do so, or if the deficiency is not fully made up within sixty days after the date the assessment was made, the insurer shall be deemed insolvent and shall be proceeded against as authorized by this title.

Source: SL 1966, ch 111, ch 19, § 30 (2).