South Dakota Statutes
§ 58-27-89 — Definition of terms.
Terms used in §§ to 58-27-102 , inclusive, mean:
(1)"Admitted assets," assets as shown by the insurer's annual statement as of the December thirty - first next preceding date of acquisition of the investment by the insurer, or as shown by a current financial statement filed with the director, computed in the same manner as admitted assets in chapter 58-26 , and for purposes of computing any limitation based upon admitted assets, the insurer shall deduct from the amount of its admitted assets the amounts specified in subdivisions (1) to (3) of § 58-27-6 ;
(2)"Aggregate amount of medium to lower quality obligations," the aggregate statutory statement value thereof;
(3)"Lower grade obligations," obligations and preferred shares which are rated four, five, or six by the Securities
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South Dakota § 58-27-89 (Definition of terms.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1992, ch 350, § 1; SL 1994, ch 384, § 3; SL 1997, ch 294, § 23.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.