58-29B-4. Delinquency proceedings sole and exclusive remedy--Commencement of proceedings by director.Delinquency proceedings pursuant to this chapter shall constitute the sole and exclusive method of liquidating, rehabilitating, reorganizing, or conserving an insurer, and no court may entertain a petition for the commencement of such proceedings, or any other similar procedure, unless it has been filed in the name of the state on the relation of the director. Source: SL 1989, ch 436, §4.
South Dakota Legal Code