Section 58-27-27 - Maximum amount of investments in stock of majority owned subsidiary, oranother insurer or wholly owned subsidiary. - South-dakota Statutes

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-27

58-27-27. Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary. The insurer's investments in the stock of its majority owned subsidiary insurance corporation under § 58-27-26, together with its investments in insurance stocks under § 58-27-25, may not at any time exceed the amount of the investing insurer's surplus, if a life insurer, or its surplus to policyholders if other than a life insurer. Any investment in a noninsurance majority owned corporation under § 58-27-26 is subject to the limitations under § 58-5A-73.

Source: SL 1966, ch 111, ch 6, § 16; SL 1969, ch 130; SL 1994, ch 385.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-27

58-27-27. Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary. The insurer's investments in the stock of its majority owned subsidiary insurance corporation under § 58-27-26, together with its investments in insurance stocks under § 58-27-25, may not at any time exceed the amount of the investing insurer's surplus, if a life insurer, or its surplus to policyholders if other than a life insurer. Any investment in a noninsurance majority owned corporation under § 58-27-26 is subject to the limitations under § 58-5A-73.

Source: SL 1966, ch 111, ch 6, § 16; SL 1969, ch 130; SL 1994, ch 385.

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-27

58-27-27. Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary. The insurer's investments in the stock of its majority owned subsidiary insurance corporation under § 58-27-26, together with its investments in insurance stocks under § 58-27-25, may not at any time exceed the amount of the investing insurer's surplus, if a life insurer, or its surplus to policyholders if other than a life insurer. Any investment in a noninsurance majority owned corporation under § 58-27-26 is subject to the limitations under § 58-5A-73.

Source: SL 1966, ch 111, ch 6, § 16; SL 1969, ch 130; SL 1994, ch 385.