S.D. Admin. R. 20:06:31:04.07

Current through Register Vol. 50, page 159, June 17, 2024

Section 20:06:31:04.07 - Investment limitations

An investment made pursuant to §§ 20:06:31:04.04 to 20:06:31:04.06, inclusive, shall be subject to the following additional limitations:

(1) An investment in or loan upon the obligations of an institution other than an institution that issues mortgage-related securities may not exceed five percent of the assets of the trust;

(2) An investment in any one mortgage-related security may not exceed five percent of the assets of the trust;

(3) The aggregate total investment in mortgage-related securities may not exceed 25 percent of the assets of the trust; and

(4) Preferred or guaranteed shares issued or guaranteed by a solvent U.S. institution are permissible investments if all of the institutions obligations are eligible as investments under subdivisions 20:06:31:04.05(1) and 20:06:31:04.05(3), but may not exceed two percent of the assets of the trust.

S.D. Admin. R. 20:06:31:04.07

44 SDR 71, effective 10/23/2017

General Authority: SDCL 58-14-17.

Law Implemented: SDCL 58-14-11, 58-14-13, 58-14-17, 58-14-20.