Notwithstanding the requirements of §§ 58-27-89 and 58-27-90, a domestic insurer may acquire an obligation of an institution in which the insurer already has one or more obligations, if the obligation is acquired in order to protect an investment previously made in the obligations of the institution, provided that all acquired obligations may not exceed one-half of one percent of the insurer's admitted assets.
S.D. Codified Laws § 58-27-92
Multiple obligations in same institution
Source: SL 1992, ch 350, § 4.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.