No provision of this chapter shall prohibit the acquisition by an insurer of other or additional securities or property if received as a dividend or as a lawful distribution of assets, or under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation. Any investment so acquired which is not otherwise eligible under this chapter shall be disposed of pursuant to §§ 58-27-73 and 58-27-74 if personal property or securities, or pursuant to §§ 58-27-70 to 58-27-72, inclusive, if real property.
S.D. Codified Laws § 58-27-5
Acquisition of ineligible securities or property--Disposition
Source: SL 1966, ch 111, ch 6, § 3 (3).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.