S.D. Admin. R. 20:06:31:04.11

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

Section 20:06:31:04.11 - Investment companies

Securities of an investment company registered pursuant to the Investment Company Act of 1940, 15 U.S.C. § 80a, are permissible investments if the investment company:

(1) Invests at least 90 percent of its assets in the types of securities that qualify as an investment under §§ 20:06:31:04.04 to 20:06:31:06.06 or invests in securities that are determined by the director to be substantively similar to the types of securities set forth in §§ 20:06:31:04.04 to 20:06:31:06.06; or

(2) Invests at least 90 percent of its assets in the types of equity interests that qualify as an investment under subdivision 20:06:31:04.09(1).

S.D. Admin. R. 20:06:31:04.11

44 SDR 71, effective 10/23/2017

General Authority: SDCL 58-14-17.

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