Section 58-27-86 - Approval of banking acquisition required--Considerations in determining--Conditions. - South-dakota Statutes

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Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-86

58-27-86. Approval of banking acquisition required--Considerations in determining--Conditions. Any acquisition under § 58-27-85 is subject to approval by the Division of Insurance. In considering an application for approval, the division may consider whether, in the case of an insurance company, the economic advantages to the state in terms of employment and capital investment are adequate to permit approval of the application. Any approval granted to an insurance company or an insurance holding company by the division is subject to such conditions as the division deems necessary and to the division's continuing authority to ascertain the insurance company's compliance with the provisions of this section and the conditions of approval.

Source: SL 1983, ch 376, § 11.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-86

58-27-86. Approval of banking acquisition required--Considerations in determining--Conditions. Any acquisition under § 58-27-85 is subject to approval by the Division of Insurance. In considering an application for approval, the division may consider whether, in the case of an insurance company, the economic advantages to the state in terms of employment and capital investment are adequate to permit approval of the application. Any approval granted to an insurance company or an insurance holding company by the division is subject to such conditions as the division deems necessary and to the division's continuing authority to ascertain the insurance company's compliance with the provisions of this section and the conditions of approval.

Source: SL 1983, ch 376, § 11.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-86

58-27-86. Approval of banking acquisition required--Considerations in determining--Conditions. Any acquisition under § 58-27-85 is subject to approval by the Division of Insurance. In considering an application for approval, the division may consider whether, in the case of an insurance company, the economic advantages to the state in terms of employment and capital investment are adequate to permit approval of the application. Any approval granted to an insurance company or an insurance holding company by the division is subject to such conditions as the division deems necessary and to the division's continuing authority to ascertain the insurance company's compliance with the provisions of this section and the conditions of approval.

Source: SL 1983, ch 376, § 11.