There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 58 INSURANCE
Chapter 27. Loans And Investments Of Insurers
- §58-27-1 Application of chapter.
- §58-27-2 Eligible investments by insurers--Violation as misdemeanor.
- §58-27-3 Time of determination of eligibility of investment.
- §58-27-4 Prior legal investment deemed eligible.
- §58-27-5 Acquisition of ineligible securities or property--Disposition.
- §58-27-6 Time of investment limitation based on amount of insurer's admitted assets, risk based capital, or capital and surplus.
- §58-27-7 Investments required to produce income--Exemptions--Rules.
- §58-27-8 Security or investment ineligible for purchase or exchange at more than market value.
- §58-27-9 Obligations of United States or Canada.
- §58-27-10 Loans guaranteed by United States or Canada.
- §58-27-11 Obligations of states, provinces, and political subdivisions.
- §58-27-12 Revenue bonds of states, provinces, and political subdivisions.
- §58-27-12.1 Maximum investments in bonds, warrants, and evidence of indebtedness.
- §58-27-13 Obligations or stock of federal agencies.
- §58-27-14 Certificates of deposit in federally insured banks.
- §58-27-15 Federally insured savings and loan accounts.
- §58-27-15.1 Credit Union accounts.
- §58-27-16 Obligations of international bank and certain development banks for reconstruction and development.
- §58-27-17 Investments authorized for insurers.
- §58-27-18 to 58-27-22. Repealed.
- §58-27-23 Nonassessable common stock of corporation--Insurance stocks excepted.
- §58-27-24 Stock of solvent insurers meeting requirements.
- §58-27-25 Insurer acquiring controlling interest in another stock insurer--Limitation as to amount.
- §58-27-26 Investments in stock of majority owned subsidiary corporations.
- §58-27-27 Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary.
- §58-27-28 Equipment trust obligations or certificates.
- §58-27-29 Foreign securities--Insurer authorized to do business in foreign country--Limitation as to amount.
- §58-27-30 Collateral loans--Pledge of securities--Restricted amount.
- §58-27-31 Policy loans by life insurer--Maximum amount.
- §58-27-32 Real estate mortgages and deeds of trust.
- §58-27-33 "Improved real property" defined.
- §58-27-34 Interests and restrictions not constituting encumbrances upon improved real property.
- §58-27-35 Deduction of sum owing on real property but not due or delinquent--Reserved rights not included in fair value of property.
- §58-27-36 Bonds or notes secured by mortgage or trust deed guaranteed by federal housing administration.
- §58-27-37 Bonds or notes secured by mortgage or trust deed guaranteed by administrator of veterans' affairs.
- §58-27-38 Equity of seller of real property in contract for deed--Maximum amount of investment.
- §58-27-39 Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment.
- §58-27-40 Purchase money mortgage or other securities received by insurer upon sale or exchange of real property.
- §58-27-41 Maximum loan on security of real property--Misdemeanor.
- §58-27-42 Real property mortgage loan limited by property value--Loan on leasehold--Additional investment in other assets.
- §58-27-43 Deduction from loan of amount guaranteed by administrator of veterans' affairs.
- §58-27-44 Appraisal to determine market value of property.
- §58-27-45 Loan on or investment in real estate mortgage on security of chattel mortgage--Limited amount.
- §58-27-46 "Durable equipment" defined.
- §58-27-47 Acquisition of chattel mortgage--Separate appraisal of included items to determine fair market value--Maximum amount of loan.
- §58-27-48 Liens on personal property as additional security permitted.
- §58-27-49 Sale of mortgage loans to federal national mortgage association.
- §58-27-50 Restrictions on purposes and amount of real estate investments.
- §58-27-51 Maximum investments in other assets--Exceptions.
- §58-27-51.1 Additional investment authority--Life and health insurers.
- §58-27-51.2 Additional investment authority--Property and casualty insurers.
- §58-27-51.3 Additional investment authority--Valuation of investments.
- §58-27-52 Limits on categories of investments.
- §58-27-53 Maximum amount of investments with one person--Exceptions.
- §58-27-54 Maximum amount of investment in voting stock of corporation--Exceptions.
- §58-27-55 Maintenance of invested funds--Minimum amount--Guaranteed securities--Real property.
- §58-27-56 Minimum investments by life insurer.
- §58-27-57 Corporate bonds, debentures, and equipment trust certificates--Maximum amount of investment.
- §58-27-58 Limitations on investments in corporate stock--Exceptions.
- §58-27-59 Repealed.
- §58-27-60 Limits of investments in real estate--Law governing.
- §58-27-61 Investment or loans on own capital stock.
- §58-27-62 Loan secured by own stock as collateral.
- §58-27-63 Repealed.
- §58-27-64 "Affiliate" defined.
- §58-27-65 Finding of director that security designed to evade chapter--Investment or loan prohibited.
- §58-27-66 Pension or profit-sharing trust agreement not prohibited.
- §58-27-67 Underwriting of securities or property prohibited.
- §58-27-68 Foreign insurer--Permitted investment portfolio--Domicile of alien insurer.
- §58-27-69 Authorization of investment or loan by board or committee of insurer.
- §58-27-70 Disposal of real estate unnecessary for transaction of insurance business--Time limit.
- §58-27-71 Disposal of real estate acquired in satisfaction of debt, as part payment of consideration on sale of real estate, as gift or devise, or through merger, consolidation, or bulk reinsurance--Time limit.
- §58-27-72 Extension of time for disposal of real estate--Election to hold as investment for income purposes, acquisition cost.
- §58-27-73 Immediate disposal of ineligible property or security unlawfully acquired.
- §58-27-74 Disposal of lawfully acquired ineligible property--Extension of time.
- §58-27-75 Ineligible personal property or securities not allowable as assets of insurer.
- §58-27-76 Expiration of period for disposal of ineligible property or securities--Disallowance as admitted asset.
- §58-27-77 Immediate disposal of ineligible investment unlawfully acquired.
- §58-27-78 Nominee holding investments--Definitions.
- §58-27-79 Name in which investments held.
- §58-27-80 Holding in name of clearing corporation, custodian bank or nominee--Conditions.
- §58-27-81 Securities lending, repurchase, reverse repurchase and dollar roll transactions--Agreement required.
- §58-27-82 Participation in federal reserve book-entry system.
- §58-27-83 Interest in pool of obligations--Fractional interest in an obligation--Requirements.
- §58-27-84 Evidence of investment required in absence of certificate.
- §58-27-85 Banking business authorized--Acquisition of banks--Regulation of such banking business.
- §58-27-86 Approval of banking acquisition required--Considerations in determining--Conditions.
- §58-27-87 Banking patronage as prerequisite to issuance of insurance policy prohibited.
- §58-27-88 Limitation on application of Secondary Mortgage Market Enhancement Act to certain investments.
- §58-27-89 Definition of terms.
- §58-27-90 Limitations on acquiring medium or lower grade obligations.
- §58-27-91 Obligations contracted prior to July 1, 1992.
- §58-27-92 Multiple obligations in same institution.
- §58-27-93 Written plans for making medium or lower grade obligations--Contents of plan--Deadline.
- §58-27-94 Limit on amount invested in medium or lower grade obligations.
- §58-27-95 Restructuring of medium or lower grade obligation already held.
- §58-27-96 Conflicting provisions.
- §58-27-97 Excess transactions.
- §58-27-98 Promulgation of rules.
- §58-27-99 Application of §§ 58-27-89 to 58-27-102.
- §58-27-100 Time limit for compliance with §§ 58-27-89 to 58-27-102.
- §58-27-101 Investment in money market funds.
- §58-27-102 Investment in company owned life insurance contracts.
- §58-27-103 Investment in a collateralized pool of mortgages--Requirements--Restrictions.
- §58-27-104 Investment in a collateralized pool of assets other than mortgages--Requirements.
- §58-27-105 Foreign investments.
- §58-27-106 Repealed.
- §58-27-107 Ratification of investment.
- §58-27-108 Rating and valuation of investments--Requirements--Divestment.
- §58-27-109 "Institution" defined.
- §58-27-110 Title plans investments.
- §58-27-111 Joint venture and limited partnership investments.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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