S.D. Admin. R. 20:06:04:04

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:06:04:04 - When beneficial owners are record owners

Notwithstanding § 20:06:04:02, if the insurer knows or has reason to know that the form of holding securities of record is used primarily to circumvent the provisions of the act, the beneficial owners of such securities shall be deemed to be the record owners thereof.

4 SDR 6, effective 8/9/1977; 12 SDR 151, 12 SDR 155, effective 7/1/1986.

General Authority: SDCL 58-5-77.

Law Implemented: SDCL 58-5-68.