South Dakota § 58-27-38 Equity of seller of real property in contract for deed--Maximum amount of investment.

South Dakota Statutes

§ 58-27-38 — Equity of seller of real property in contract for deed--Maximum amount of investment.

South Dakota § 58-27-38

Title 58INSURANCE

Ch. 58-27LOANS AND INVESTMENTS OF INSURERS

This text of South Dakota § 58-27-38 (Equity of seller of real property in contract for deed--Maximum amount of investment.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-27-38 (2026).

Text

An insurer may invest any of its funds in the equity of the seller of real property in a contract for deed, covering the entire balance due on a bona fide sale of such property, in amount not to exceed ten thousand dollars or the amount permissible under §§ 58-27-52 to 58-27-60 , inclusive, whichever is greater, in any one such contract for deed; nor in any amount in excess of the following percentages of the actual sale price or fair value of the property, whichever is the smaller:

(1)If a dwelling primarily designed for single - family occupancy and occupied by the purchaser under such contract, seventy - five percent.

(2)In all other cases, seventy - five percent.

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An insurer may invest any of its funds in the equity of the seller of real property in a contract for deed, covering the entire balance due on a bona fide sale of such property, in amount not to exceed ten thousand dollars or the amount permissible under §§ 58-27-52 to 58-27-60 , inclusive, whichever is greater, in any one such contract for deed; nor in any amount in excess of the following percentages of the actual sale price or fair value of the property, whichever is the smaller: (1) If a dwelling primarily designed for single - family occupancy and occupied by the purchaser under such contract, seventy - five percent. (2) In all other cases, seventy - five percent.