Sections 58-5-108 to 58-5-111, inclusive, shall not apply to loans obtained by an insurer in the ordinary course of business from banks and other financial institutions, nor to loans secured by pledge or mortgage of assets.
S.D. Codified Laws § 58-5-112
Provisions as to borrowed surplus inapplicable to loans in ordinary course of business or secured by pledge or mortgage
Source: SL 1966, ch 111, ch 16, § 34 (5).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.