If the deficiency is not cured as required by § 58-5-114 , the insurer shall be deemed insolvent and the director shall institute delinquency proceedings as provided in this title. Source: SL 1966, ch 111 , ch 16, § 35 (3).
Failure to cure deficiency, insurer deemed insolvent--Delinquency proceedings
SDCL § 58-5-119 — under ORGANIZATION AND GENERAL POWERS OF INSURERS.
SDCL § 58-5-119