2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 27 - Loans And Investments Of Insurers
§ 58-27-61 Investment or loans on own capital stock.
58-27-61. Investment or loans on own capital stock. In addition to investments excluded pursuant to other provisions of this title, no insurer may invest in or lend its funds upon the security of issued shares of its own capital stock except out of unborrowed surplus, or except in connection with a pension plan approved by the director for the benefit of the insurer's officers, employees, representatives, or insurance producers. No such stock may, however, constitute an asset of the insurer in any determination of its financial condition.
Source: SL 1966, ch 111, ch 6, § 34 (1) (a); SL 2001, ch 286, § 135.
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