Deposits of the reserves of a domestic life insurer shall consist of securities and assets permitted for investment by chapter 58-27. Deposits of reserves made by domestic life insurers shall be held for the common benefit of all the holders of its life insurance policies and annuity contracts.
S.D. Codified Laws § 58-7-10
Deposits of reserves of domestic life insurer--Assets comprising--Holding for common benefit of policyholders and annuity contracts
Source: SL 1966, ch 111, ch 7, §§ 3 (3), 4 (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.