South Dakota § 58-27-83 Interest in pool of obligations--Fractional interest in an obligation--Requirements.

South Dakota Statutes

§ 58-27-83 — Interest in pool of obligations--Fractional interest in an obligation--Requirements.

South Dakota § 58-27-83

Title 58INSURANCE

Ch. 58-27LOANS AND INVESTMENTS OF INSURERS

This text of South Dakota § 58-27-83 (Interest in pool of obligations--Fractional interest in an obligation--Requirements.) 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 § 58-27-83 (2026).

Text

An investment may consist of an individual interest in a pool of obligations or a fractional interest in a single obligation if the certificate of participation or interest or the confirmation of participation or interest in the investment is issued in the name of the company or the name of the custodian bank or the nominee of either and if the certificate or confirmation must, if held by a custodian bank, be kept separate and apart from the investments of others so that at all times the participation may be identified as belonging solely to the company making the investment.

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An investment may consist of an individual interest in a pool of obligations or a fractional interest in a single obligation if the certificate of participation or interest or the confirmation of participation or interest in the investment is issued in the name of the company or the name of the custodian bank or the nominee of either and if the certificate or confirmation must, if held by a custodian bank, be kept separate and apart from the investments of others so that at all times the participation may be identified as belonging solely to the company making the investment.