South Dakota Statutes
§ 58-27-54 — Maximum amount of investment in voting stock of corporation--Exceptions.
An insurer may not invest in or hold at any one time more than ten percent of the outstanding voting stock of any corporation, except with respect to voting rights of preference stock during default and of dividends; this section does not apply to stock of a majority owned subsidiary of the insurer or to controlling stock of an insurer acquired under §§ 58-27-24 to 58-27-26 , inclusive.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 58-27-54 (Maximum amount of investment in voting stock of corporation--Exceptions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 6, § 5 (2); SL 1983, ch 376, § 7.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.