South Dakota § 58-27-74 Disposal of lawfully acquired ineligible property--Extension of time.

South Dakota Statutes

§ 58-27-74 — Disposal of lawfully acquired ineligible property--Extension of time.

South Dakota § 58-27-74

Title 58INSURANCE

Ch. 58-27LOANS AND INVESTMENTS OF INSURERS

This text of South Dakota § 58-27-74 (Disposal of lawfully acquired ineligible property--Extension of time.) 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 § 58-27-74 (2026).

Text

Any personal property or securities lawfully acquired by an insurer which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of by the insurer within one year from date of acquisition, unless within such period the security has attained the standard for eligibility. The director, upon application and proof that forced sale of any such property or security would be against the best interests of the insurer, may extend the disposal period for an additional reasonable time.

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Any personal property or securities lawfully acquired by an insurer which it could not otherwise have invested in or loaned its funds upon at the time of such acquisition, shall be disposed of by the insurer within one year from date of acquisition, unless within such period the security has attained the standard for eligibility. The director, upon application and proof that forced sale of any such property or security would be against the best interests of the insurer, may extend the disposal period for an additional reasonable time.