South Dakota § 58-28-15 Securities in which investment authorized--Not considered in applying company's investment limitations.

South Dakota Statutes

§ 58-28-15 — Securities in which investment authorized--Not considered in applying company's investment limitations.

South Dakota § 58-28-15

Title 58INSURANCE

Ch. 58-27SEPARATE LIFE INSURANCE AND ANNUITY ACCOUNTS

This text of South Dakota § 58-28-15 (Securities in which investment authorized--Not considered in applying company's investment limitations.) 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 § 58-28-15 (2026).

Text

Except as may be provided with respect to reserves for guaranteed benefits and funds referred to in § 58-28-14 , amounts allocated to any separate account and accumulations thereon may be invested and reinvested:

(1)In any class of investments which are authorized by chapter 58-27 , except as provided in § 58-27-51 or 58-27-51.1 , and except that limitations on the amount of assets which may be invested in the various classes of investments imposed in chapter 58-27 does not apply;

(2)In shares registered on a national securities exchange, although the same do not meet the dividend paying requirements of § 58-27-23 ;

(3)In the securities of an open - end investment company or companies registered under the Investment Company Act of 1940. The investments in such separate account

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Except as may be provided with respect to reserves for guaranteed benefits and funds referred to in § 58-28-14 , amounts allocated to any separate account and accumulations thereon may be invested and reinvested: (1) In any class of investments which are authorized by chapter 58-27 , except as provided in § 58-27-51 or 58-27-51.1 , and except that limitations on the amount of assets which may be invested in the various classes of investments imposed in chapter 58-27 does not apply; (2) In shares registered on a national securities exchange, although the same do not meet the dividend paying requirements of § 58-27-23 ; (3) In the securities of an open - end investment company or companies registered under the Investment Company Act of 1940. The investments in such separate account or accounts may not be taken into account in applying the investment limitations otherwise applicable to the investments of the insurer.

Legislative History

SL 1966, ch 111, ch 6, § 36 (4); § 36 (2) as amended by SL 1967, ch 131; SDCL, § 58-28-2; SL 1969, ch 132; SL 1971, ch 266, § 1 (2); SL 1997, ch 294, § 34.