Section 58-27-30 - Collateral loans--Pledge of securities--Restricted amount. - South-dakota Statutes

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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.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-30

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.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-30

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.