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2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 27 - Loans And Investments Of Insurers
§ 58-27-30 Collateral loans--Pledge of securities--Restricted amount.


SD Codified L § 58-27-30 (2013) What's This?

58-27-30. Collateral loans--Pledge of securities--Restricted amount. An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As of the date made, no such loan shall exceed in amount seventy-five percent of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged.

Source: SL 1966, ch 111, ch 6, § 20.

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