S.D. Codified Laws § 58-27-6

Current through the 2024 Legislative Session

Section 58-27-6 - Time of investment limitation based on amount of insurer's admitted assets, risk based capital, or capital and surplus

Unless otherwise specified, any investment limitation based upon the amount of the insurer's admitted assets, risk based capital, or capital and surplus, shall relate to such admitted assets, risk based capital, or capital and surplus as shown by the insurer's annual statement as of the December thirty-first next preceding date of acquisition of the investment by the insurer, or as shown by a current financial statement filed with the director. For purposes of computing any limitation based upon admitted assets, the insurer shall deduct the following to the extent included in the insurer's admitted assets, from the amount of its admitted assets:

(1) Collateral received in a reverse repurchase transaction or a securities lending transaction;

(2) Cash received in a dollar roll transaction; and

(3) The assets in any separate accounts maintained by the insurer.

SDCL 58-27-6

SL 1966, ch 111, ch 6, § 2 (4); SL 1997, ch 294, § 3.