Section 58-23-2 - Bankruptcy or insolvency of assured--Insurer not released from liability.
58-23-2. Bankruptcy or insolvency of assured--Insurer not released from liability. No liability insurance policy issued in this state shall contain any requirement for the payment of liability or loss under the policy, by the assured, but all such policies shall provide in substance that the bankruptcy or insolvency of the assured shall not release the insurer from liability.
Source: SL 1966, ch 111, ch 32, § 2.