Any real estate, personal property, or securities acquired and held by an insurer after expiration of the period for disposal thereof or any extension of such period granted by the director, as provided in §§ 58-27-50 and 58-27-70 to 58-27-75, inclusive, shall not be allowed as an admitted asset of the insurer.
S.D. Codified Laws § 58-27-76
Expiration of period for disposal of ineligible property or securities--Disallowance as admitted asset
Source: SL 1966, ch 111, ch 6, § 33 (1).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.