Third party claim against insured of insurer in liquidation filed with liquidator--Insured's filing--Late filing

If any third party asserts a cause of action against an insured of an insurer in liquidation, the third party may file a claim with the liquidator. Whether or not the third party files a claim, the insured may file a claim on his own behalf in the liquidation. If the insured fails to file a claim by the date for filing claims specified in the order of liquidation or within sixty days after mailing of the notice required by §§ 58-29B-51 and 58-29B-52 , whichever is later, he is an unexcused late filer. Source: SL 1989, ch 436 , § 116.