An insurer may invest in nonassessable common shares, trust certificates, or other equity interests, excluding preferred shares, insurance stocks, or acquisitions subject to subdivision 58-27-17(5) or § 58-27-111, of any solvent institution existing under the laws of the United States of America or Canada, or any state or province thereof.
S.D. Codified Laws § 58-27-23
Nonassessable common stock of corporation--Insurance stocks excepted
Source: SL 1966, ch 111, ch 6, § 14; SL 1997, ch 294, § 8.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.