South Dakota § 58-27-61 Investment or loans on own capital stock.

South Dakota Statutes

§ 58-27-61 — Investment or loans on own capital stock.

South Dakota § 58-27-61

Title 58INSURANCE

Ch. 58-27LOANS AND INVESTMENTS OF INSURERS

This text of South Dakota § 58-27-61 (Investment or loans on own capital stock.) 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 § 58-27-61 (2026).

Text

In addition to investments excluded pursuant to other provisions of this title, no insurer may invest in or lend its funds upon the security of issued shares of its own capital stock except out of unborrowed surplus, or except in connection with a pension plan approved by the director for the benefit of the insurer's officers, employees, representatives, or insurance producers. No such stock may, however, constitute an asset of the insurer in any determination of its financial condition.

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In addition to investments excluded pursuant to other provisions of this title, no insurer may invest in or lend its funds upon the security of issued shares of its own capital stock except out of unborrowed surplus, or except in connection with a pension plan approved by the director for the benefit of the insurer's officers, employees, representatives, or insurance producers. No such stock may, however, constitute an asset of the insurer in any determination of its financial condition.