Section 58-27-94 - Limit on amount invested in medium or lower grade obligations. - South-dakota Statutes

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Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-94

58-27-94. Limit on amount invested in medium or lower grade obligations. No domestic insurer may invest more than an aggregate of one percent of its admitted assets in medium grade obligations issued, guaranteed, or insured by any one institution nor may it invest more than one-half of one percent of its admitted assets in lower grade obligations issued, guaranteed, or insured by any one institution. In no event, however, may a domestic insurer invest more than one percent of its admitted assets in any medium or lower grade obligations issued, guaranteed, or insured by any one institution.

Source: SL 1992, ch 350, § 6.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-94

58-27-94. Limit on amount invested in medium or lower grade obligations. No domestic insurer may invest more than an aggregate of one percent of its admitted assets in medium grade obligations issued, guaranteed, or insured by any one institution nor may it invest more than one-half of one percent of its admitted assets in lower grade obligations issued, guaranteed, or insured by any one institution. In no event, however, may a domestic insurer invest more than one percent of its admitted assets in any medium or lower grade obligations issued, guaranteed, or insured by any one institution.

Source: SL 1992, ch 350, § 6.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-27 > Statute-58-27-94

58-27-94. Limit on amount invested in medium or lower grade obligations. No domestic insurer may invest more than an aggregate of one percent of its admitted assets in medium grade obligations issued, guaranteed, or insured by any one institution nor may it invest more than one-half of one percent of its admitted assets in lower grade obligations issued, guaranteed, or insured by any one institution. In no event, however, may a domestic insurer invest more than one percent of its admitted assets in any medium or lower grade obligations issued, guaranteed, or insured by any one institution.

Source: SL 1992, ch 350, § 6.