Section 58-7-29 - Deposit exceeding requirements--Release to insurer upon request--Release duringinsolvency of insurer. - South-dakota Statutes

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Statutes > South-dakota > Title-58 > Chapter-07 > Statute-58-7-29

58-7-29. Deposit exceeding requirements--Release to insurer upon request--Release during insolvency of insurer. An insurer may so deposit and have on deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under this title, for the purpose of absorbing fluctuations in the value of assets and securities deposited, and to facilitate the exchange and substitution of such assets and securities. During the solvency of the insurer any such excess shall be released to the insurer upon its request. During the insolvency of the insurer such excess deposit shall be released only as provided in § 58-7-37.

Source: SL 1966, ch 111, ch 7, § 11.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-07 > Statute-58-7-29

58-7-29. Deposit exceeding requirements--Release to insurer upon request--Release during insolvency of insurer. An insurer may so deposit and have on deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under this title, for the purpose of absorbing fluctuations in the value of assets and securities deposited, and to facilitate the exchange and substitution of such assets and securities. During the solvency of the insurer any such excess shall be released to the insurer upon its request. During the insolvency of the insurer such excess deposit shall be released only as provided in § 58-7-37.

Source: SL 1966, ch 111, ch 7, § 11.

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-07 > Statute-58-7-29

58-7-29. Deposit exceeding requirements--Release to insurer upon request--Release during insolvency of insurer. An insurer may so deposit and have on deposit assets or securities in an amount exceeding its deposit required or otherwise permitted under this title, for the purpose of absorbing fluctuations in the value of assets and securities deposited, and to facilitate the exchange and substitution of such assets and securities. During the solvency of the insurer any such excess shall be released to the insurer upon its request. During the insolvency of the insurer such excess deposit shall be released only as provided in § 58-7-37.

Source: SL 1966, ch 111, ch 7, § 11.