STATE STATUTES & CODES

SOUTH DAKOTA STATUTES AND CODES

Chapter 27 - Loans And Investments Of Insurers

• Section 58-27-1 - Application of chapter.
• Section 58-27-2 - Eligible investments by insurers--Violation as misdemeanor.
• Section 58-27-3 - Time of determination of eligibility of investment.
• Section 58-27-4 - Prior legal investment deemed eligible.
• Section 58-27-5 - Acquisition of ineligible securities or property--Disposition.
• Section 58-27-6 - Time of investment limitation based on amount of insurer's admitted assets, riskbased capital, or capital and surplus.
• Section 58-27-7 - Investments required to produce income--Exemptions--Rules.
• Section 58-27-8 - Security or investment ineligible for purchase or exchange at more than marketvalue.
• Section 58-27-9 - Obligations of United States or Canada.
• Section 58-27-10 - Loans guaranteed by United States or Canada.
• Section 58-27-11 - Obligations of states, provinces, and political subdivisions.
• Section 58-27-12 - Revenue bonds of states, provinces, and political subdivisions.
• Section 58-27-12.1 - Maximum investments in bonds, warrants, and evidence of indebtedness.
• Section 58-27-13 - Obligations or stock of federal agencies.
• Section 58-27-14 - Certificates of deposit in federally insured banks.
• Section 58-27-15 - Federally insured savings and loan accounts.
• Section 58-27-15.1 - Credit Union accounts.
• Section 58-27-16 - Obligations of international bank and certain development banks forreconstruction and development.
• Section 58-27-17 - Investments authorized for insurers.
• Sections 58-27-18 to 58-27-22 - Repealed
• Section 58-27-23 - Nonassessable common stock of corporation--Insurance stocks excepted.
• Section 58-27-24 - Stock of solvent insurers meeting requirements.
• Section 58-27-25 - Insurer acquiring controlling interest in another stock insurer--Limitation as toamount.
• Section 58-27-26 - Investments in stock of majority owned subsidiary corporations.
• Section 58-27-27 - Maximum amount of investments in stock of majority owned subsidiary, oranother insurer or wholly owned subsidiary.
• Section 58-27-28 - Equipment trust obligations or certificates.
• Section 58-27-29 - Foreign securities--Insurer authorized to do business in foreign country--Limitation as to amount.
• Section 58-27-30 - Collateral loans--Pledge of securities--Restricted amount.
• Section 58-27-31 - Policy loans by life insurer--Maximum amount.
• Section 58-27-32 - Real estate mortgages and deeds of trust.
• Section 58-27-33 - "Improved real property" defined.
• Section 58-27-34 - Interests and restrictions not constituting encumbrances upon improved realproperty.
• Section 58-27-35 - Deduction of sum owing on real property but not due or delinquent--Reservedrights not included in fair value of property.
• Section 58-27-36 - Bonds or notes secured by mortgage or trust deed guaranteed by federalhousing administration.
• Sections 58-27-37, 58-27-38 - Bonds or notes secured by mortgage or trust deed guaranteed by administrator of veterans' affairs. Equity of seller of real property in contract for deed--Maximum amo
• Section 58-27-39 - Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment.
• Section 58-27-40 - Purchase money mortgage or other securities received by insurer upon sale orexchange of real property.
• Section 58-27-41 - Maximum loan on security of real property--Misdemeanor.
• Section 58-27-42 - Real property mortgage loan limited by property value--Loan on leasehold--Additional investment in other assets.
• Section 58-27-43 - Deduction from loan of amount guaranteed by administrator of veterans' affairs.
• Section 58-27-44 - Appraisal to determine market value of property.
• Section 58-27-45 - Loan on or investment in real estate mortgage on security of chattel mortgage--Limited amount.
• Section 58-27-46 - "Durable equipment" defined.
• Section 58-27-47 - Acquisition of chattel mortgage--Separate appraisal of included items todetermine fair market value--Maximum amount of loan.
• Section 58-27-48 - Liens on personal property as additional security permitted.
• Section 58-27-49 - Sale of mortgage loans to federal national mortgage association.
• Section 58-27-50 - Restrictions on purposes and amount of real estate investments.
• Section 58-27-51 - Maximum investments in other assets--Exceptions.
• Section 58-27-51.1 - Additional investment authority--Life and health insurers.
• Section 58-27-51.2 - Additional investment authority--Property and casualty insurers.
• Section 58-27-51.3 - Additional investment authority--Valuation of investments.
• Section 58-27-52 - Limits on categories of investments.
• Section 58-27-53 - Maximum amount of investments with one person--Exceptions.
• Section 58-27-54 - Maximum amount of investment in voting stock of corporation--Exceptions.
• Section 58-27-55 - Maintenance of invested funds--Minimum amount--Guaranteed securities--Realproperty.
• Section 58-27-56 - Minimum investments by life insurer.
• Section 58-27-57 - Corporate bonds, debentures, and equipment trust certificates--Maximumamount of investment.
• Section 58-27-58 - Limitations on investments in corporate stock--Exceptions.
• Section 58-27-59 - Repealed.
• Section 58-27-60 - Limits of investments in real estate--Law governing.
• Section 58-27-61 - Investment or loans on own capital stock.
• Section 58-27-62 - Loan secured by own stock as collateral.
• Section 58-27-63 - Repealed.
• Section 58-27-64 - "Affiliate" defined.
• Section 58-27-65 - Finding of director that security designed to evade chapter--Investment or loanprohibited.
• Section 58-27-66 - Pension or profit-sharing trust agreement not prohibited.
• Section 58-27-67 - Underwriting of securities or property prohibited.
• Section 58-27-68 - Foreign insurer--Permitted investment portfolio--Domicile of alien insurer.
• Section 58-27-69 - Authorization of investment or loan by board or committee of insurer.
• Section 58-27-70 - Disposal of real estate unnecessary for transaction of insurance business--Timelimit.
• Section 58-27-71 - Disposal of real estate acquired in satisfaction of debt, as part payment ofconsideration on sale of real estate, as gift or devise, or through merger,consolidation, or bulk reinsur
• Section 58-27-72 - Extension of time for disposal of real estate--Election to hold as investment forincome purposes, acquisition cost.
• Section 58-27-73 - Immediate disposal of ineligible property or security unlawfully acquired.
• Section 58-27-74 - Disposal of lawfully acquired ineligible property--Extension of time.
• Section 58-27-75 - Ineligible personal property or securities not allowable as assets of insurer.
• Section 58-27-76 - Expiration of period for disposal of ineligible property or securities--Disallowance as admitted asset.
• Section 58-27-77 - Immediate disposal of ineligible investment unlawfully acquired.
• Section 58-27-78 - Nominee holding investments--Definitions.
• Section 58-27-79 - Name in which investments held.
• Section 58-27-80 - Holding in name of clearing corporation, custodian bank or nominee--Conditions.
• Section 58-27-81 - Securities lending, repurchase, reverse repurchase and dollar roll transactions--Agreement required.
• Section 58-27-82 - Participation in federal reserve book-entry system.
• Section 58-27-83 - Interest in pool of obligations--Fractional interest in an obligation--Requirements.
• Section 58-27-84 - Evidence of investment required in absence of certificate.
• Section 58-27-85 - Banking business authorized--Acquisition of banks--Regulation of such bankingbusiness.
• Section 58-27-86 - Approval of banking acquisition required--Considerations in determining--Conditions.
• Section 58-27-87 - Banking patronage as prerequisite to issuance of insurance policy prohibited.
• Section 58-27-88 - Limitation on application of Secondary Mortgage Market Enhancement Act tocertain investments.
• Section 58-27-89 - Definition of terms.
• Section 58-27-90 - Limitations on acquiring medium or lower grade obligations.
• Section 58-27-91 - Obligations contracted prior to July 1, 1992.
• Section 58-27-92 - Multiple obligations in same institution.
• Section 58-27-93 - Written plans for making medium or lower grade obligations--Contents of plan--Deadline.
• Section 58-27-94 - Limit on amount invested in medium or lower grade obligations.
• Section 58-27-95 - Restructuring of medium or lower grade obligation already held.
• Section 58-27-96 - Conflicting provisions.
• Section 58-27-97 - Excess transactions.
• Section 58-27-98 - Promulgation of rules.
• Section 58-27-99 - Application of §§ 58-27-89 to 58-27-102.
• Section 58-27-100 - Time limit for compliance with §§ 58-27-89 to 58-27-102.
• Section 58-27-101 - Investment in money market funds.
• Section 58-27-102 - Investment in company owned life insurance contracts.
• Section 58-27-103 - Investment in a collateralized pool of mortgages--Requirements--Restrictions.
• Section 58-27-104 - Investment in a collateralized pool of assets other than mortgages--Requirements.
• Section 58-27-105 - Foreign investments.
• Section 58-27-106 - Repealed.
• Section 58-27-107 - Ratification of investment.
• Sections 58-27-108, 58-27-109 - Rating and valuation of investments--Requirements--Divestment. "Institution" defined
• Section 58-27-110 - Title plans investments.