2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 27 - Loans And Investments Of Insurers
§ 58-27-102 Investment in company owned life insurance contracts.
58-27-102. Investment in company owned life insurance contracts. An insurer may invest in company owned life insurance contracts if:
(1) The life insurance is whole life;
(2) The life insurance contract does not vest in any employee of the insurer; and
(3) The company is the beneficiary and has an insurable interest.
All cash values of life insurance contracts owned by the insurers under this section may not at any one time exceed five percent of the insurers' admitted assets.
Source: SL 1992, ch 350, § 25.
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