58-20-11. Provision relieving insurer from payment on insolvency of insured prohibited.
No such policy of insurance issued shall contain any provision relieving the insurer from payment if the insured becomes insolvent or discharged in bankruptcy during the period that the policy is in operation, or the compensation, or any part of it, is due and unpaid.
Source: SL 1966, ch 111, ch 29, §9.