South Dakota Statutes
§ 58-27-102 — Investment in company owned life insurance contracts.
An insurer may invest in company owned life insurance contracts if:
(1)The life insurance is whole life;
(2)The life insurance contract does not vest in any employee of the insurer; and (3) The company is the beneficiary and has an insurable interest. All cash values of life insurance contracts owned by the insurers under this section may not at any one time exceed five percent of the insurers' admitted assets.
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South Dakota § 58-27-102 (Investment in company owned life insurance contracts.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1992, ch 350, § 25.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.