S.D. Codified Laws § 58-27-102

Current through the 2024 Legislative Session

Section 58-27-102 - Investment in company owned life insurance contracts

An insurer may invest in company owned life insurance contracts if:

(1) The life insurance is whole life;

(2) The life insurance contract does not vest in any employee of the insurer; and

(3) The company is the beneficiary and has an insurable interest.

All cash values of life insurance contracts owned by the insurers under this section may not at any one time exceed five percent of the insurers' admitted assets.

SDCL 58-27-102

SL 1992, ch 350, § 25.