Section 58-27-39 - Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment. - South-dakota Statutes

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58-27-39. Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment. An insurer may invest any of its funds in evidences of debt secured by first mortgages or deeds of trust upon leasehold estates, running for a term of not less than fifteen years beyond the maturity of the loan as made or as extended, in improved real property, otherwise unencumbered, and if the mortgagee is entitled to be subrogated to all the rights under the leasehold.

Source: SL 1966, ch 111, ch 6, § 24 (6).

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-39

58-27-39. Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment. An insurer may invest any of its funds in evidences of debt secured by first mortgages or deeds of trust upon leasehold estates, running for a term of not less than fifteen years beyond the maturity of the loan as made or as extended, in improved real property, otherwise unencumbered, and if the mortgagee is entitled to be subrogated to all the rights under the leasehold.

Source: SL 1966, ch 111, ch 6, § 24 (6).

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-39

58-27-39. Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment. An insurer may invest any of its funds in evidences of debt secured by first mortgages or deeds of trust upon leasehold estates, running for a term of not less than fifteen years beyond the maturity of the loan as made or as extended, in improved real property, otherwise unencumbered, and if the mortgagee is entitled to be subrogated to all the rights under the leasehold.

Source: SL 1966, ch 111, ch 6, § 24 (6).