South Dakota Statutes
§ 58-27-58 — Limitations on investments in corporate stock--Exceptions.
An insurer may invest and have invested at any one time in aggregate amount not more than twenty percent of its assets in all investments under §§ 58-27-23 and 58-27-24 and not more than twenty - five percent of its assets in all investments under subdivisions 58-27-17(4) and (5) and §§ 58-27-23 and 58-27-24 . Determination of the amount which an insurer has invested for the purposes of this section shall be based on the cost of such investments to the insurer. This section does not apply to stock of a controlled or subsidiary insurance corporation or other corporation under §§ 58-27-25 and 58-27-26 . This section does not apply to § 58-27-101 . For purposes of determining compliance with this section, the investments under subdivision 58-27-17(4) are limited to those mutual funds investin
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South Dakota § 58-27-58 (Limitations on investments in corporate stock--Exceptions.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 6, § 5 (6); SL 1983, ch 376, § 8; SL 1992, ch 350, § 22; SL 1997, ch 294, § 17.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.