Extinguishment of contingent liability must apply to all members and policies.

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58-5-38. Extinguishment of contingent liability must apply to all members and policies.

The director shall not approve the extinguishment of contingent liability pursuant to §58-5-37 unless it applies to all members and all policies of insurance of such insurer.

Source: SL 1966, ch 111, ch 16, §31 (2).


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