reglab/housing_qa huggingface dataset:
SD Codified L § 58-27-8 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-8 - Security or investment ineligible for purchase or exchange at more than market value.

58-27-8. Security or investment ineligible for purchase or exchange at more than market value.No security or investment shall be eligible for purchase or exchange at a price above its market value. Source: SL 1966, ch 111, ch 6, §3 (2).
SD Codified L § 58-27-9 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-9 - Obligations of United States or Canada.

58-27-9. Obligations of United States or Canada.An insurer may invest in bonds, notes, warrants, and other evidences of indebtedness which are direct obligations of the United States of America or of Canada or for which the full faith and credit of the United States of America or of Canada is pledged for the payment of principal and interest. Source: SL 1966, ch 111, ch 6, §6.
SD Codified L § 58-27-10 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-10 - Loans guaranteed by United States or Canada.

58-27-10. Loans guaranteed by United States or Canada.An insurer may invest in loans guaranteed as to principal and interest by the United States of America or Canada, or by any agency or instrumentality of the United States or Canada. Source: SL 1966, ch 111, ch 6, §7.
SD Codified L § 58-27-11 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-11 - Obligations of states, provinces, and political subdivisions.

58-27-11. Obligations of states, provinces, and political subdivisions.An insurer may invest any of its funds in bonds, warrants, or other evidences of indebtedness which are general obligations of, or are secured by pledge of specific revenues by, this state or of any other state of the United States or province of Canada or of any of the political subdivisions or other taxing districts of such states or provinces. Source: SL 1966, ch 111, ch 6, §8.
SD Codified L § 58-27-12 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-12 - Revenue bonds of states, provinces, and political subdivisions.

58-27-12. Revenue bonds of states, provinces, and political subdivisions.An insurer may invest in bonds, notes, or evidences of indebtedness of any state of the United States or province of Canada, or any political subdivision thereof or any agency or instrumentality of any of the foregoing, which are payable from revenues or earnings specifically pledged for the payment of the principal and interest on such obligations, and for the payment of which a lawful debt service fund or reserve fund has been established and is being maintained. Source: SL 1966, ch 111, ch 6, §9.
SD Codified L § 58-27-12.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-12.1 - Maximum investments in bonds, warrants, and evidence of indebtedness.

58-27-12.1. Maximum investments in bonds, warrants, and evidence of indebtedness.An insurer may invest up to twenty percent of its admitted assets in any bonds, warrants, or evidence of indebtedness described in §§58-27-11 and 58-27-12 and not rated pursuant to §58-27-108. The valuation of such investments shall be the amortized cost of the investments or the market value of the investments, whichever is less. Source: SL 2004, ch 309, §1.
SD Codified L § 58-27-13 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-13 - Obligations or stock of federal agencies.

58-27-13. Obligations or stock of federal agencies.An insurer may invest in the obligations, or stock thereof where stated, of the following agencies of the government of the United States of America, whether or not such obligations are guaranteed by such government:(1)Commodity credit corporation;(2)Federal intermediate credit banks;(3)Federal land banks;(4)Banks for cooperatives;(5)Federal home loan banks, and stock thereof;(6)Federal national mortgage association, and stock thereof when acquired in connection with sale of mortgage loans to such association; and(7)Any other similar agency of the government of the United States of America and of similar financial quality. Source: SL 1966, ch 111, ch 6, §10; SL 1979, ch 37, §7.
SD Codified L § 58-27-14 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-14 - Certificates of deposit in federally insured banks.

58-27-14. Certificates of deposit in federally insured banks.An insurer may invest in certificates of deposit in any bank that is a member of the federal deposit insurance corporation. Source: SL 1966, ch 111, ch 6, §18; SL 1971, ch 265, §1; SL 1974, ch 316.
SD Codified L § 58-27-15 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-15 - Federally insured savings and loan accounts.

58-27-15. Federally insured savings and loan accounts.To the extent that such an account is insured by the Savings Association Insurance Fund (SAIF), or any successor organizations, an insurer may invest in share or savings accounts of savings and loan and building and loan associations. Source: SL 1966, ch 111, ch 6, §21; SL 1971, ch 265, §2; SL 1982, ch 364; SL 1997, ch 294, §5.
SD Codified L § 58-27-15.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-15.1 - Credit Union accounts.

58-27-15.1. Credit Union accounts.To the extent that such an account is insured by the National Credit Union Share Insurance Fund (NCUSIF), or any successor organizations, an insurer may invest in member accounts of federal or state-chartered credit unions. Source: SL 1997, ch 294, §6.
SD Codified L § 58-27-16 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-16 - Obligations of international bank and certain development banks for reconstruction and development.

58-27-16. Obligations of international bank and certain development banks for reconstruction and development.An insurer may invest in obligations issued, assumed, or guaranteed by the International Bank for Reconstruction and Development, by the African Development Bank, or other development banks as approved by and reflected in the securities valuation manual of the National Association of Insurance Commissioners. Source: SL 1966, ch 111, ch 6, §11; SL 1989, ch 435.
SD Codified L § 58-27-17 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-17 - Investments authorized for insurers.

58-27-17. Investments authorized for insurers.An insurer may invest in:(1)Bonds, debentures, notes, and other evidences of indebtedness, or participations thereon, issued, assumed, or guaranteed by any solvent institution existing under the laws of the United States of America or Canada, or any state or province thereof, and which bear or accrue interest at a fixed or floating rate;(2)Secured and unsecured obligations of institutions described in subdivision (1) of this section, bearing or accruing interest at a fixed or floating rate, with mandatory principal and interest due at specified times;(3)Adjustment, income, or other contingent interest obligations of institutions described in subdivision (1) of this section;(4)Securities of any (a) open-end or closed-end management type investment company or investment trust fund registered under the Investment Company Act of 1940, as adopted by the director pursuant to rules promulgated pursuant to chapter 1-26, or (b) issuer meeting the requirements of Section 3(c)(1) of the Investment Company Act of 1940, as adopted by the director pursuant to rules promulgated pursuant to chapter 1-26; and(5)Preferred shares of any solvent institution existing under the laws of the United States of America or Canada, or of any state or province thereof.If an insurer has an investment in violation of this section, it shall divest itself of the investment pursuant to §58-27-74. Source: SL 1966, ch 111, ch 6, §12 (1); SL 1992, ch 350, §13; SL 1994, ch 384, §2; SL 1997, ch 294, §7.
SD Codified L § 58-27-23 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-23 - Nonassessable common stock of corporation--Insurance stocks excepted.

58-27-23. Nonassessable common stock of corporation--Insurance stocks excepted.An insurer may invest in nonassessable common shares, trust certificates, or other equity interests, excluding preferred shares, insurance stocks, or acquisitions subject to subdivision 58-27-17(5) or §58-27-111, of any solvent institution existing under the laws of the United States of America or Canada, or any state or province thereof. Source: SL 1966, ch 111, ch 6, §14; SL 1997, ch 294, §8.
SD Codified L § 58-27-24 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-24 - Stock of solvent insurers meeting requirements.

58-27-24. Stock of solvent insurers meeting requirements.An insurer may invest in the stocks of other solvent insurers formed under the laws of this or another state, which stocks meet the applicable requirements of subdivision 58-27-17(5) and §58-27-23. Source: SL 1966, ch 111, ch 6, §15 (1); SL 1992, ch 350, §19.
SD Codified L § 58-27-25 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-25 - Insurer acquiring controlling interest in another stock insurer--Limitation as to amount.

58-27-25. Insurer acquiring controlling interest in another stock insurer--Limitation as to amount.An insurer may acquire and hold the controlling interest in the outstanding voting stock of another stock insurer formed under the laws of this or another state. All stocks under this section shall be subject to the limitation as to amount as provided in §58-27-27. Source: SL 1966, ch 111, ch 6, §15 (2).
SD Codified L § 58-27-26 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-26 - Investments in stock of majority owned subsidiary corporations.

58-27-26. Investments in stock of majority owned subsidiary corporations.With the consent of the director of the Division of Insurance, an insurer may invest in the stock of its majority owned subsidiary insurance corporation; or in the stock of any other majority owned corporation. Source: SL 1966, ch 111, ch 6, §16; SL 1969, ch 130; SL 1983, ch 376, §3.
SD Codified L § 58-27-27 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-27 - Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary.

58-27-27. Maximum amount of investments in stock of majority owned subsidiary, or another insurer or wholly owned subsidiary.The insurer's investments in the stock of its majority owned subsidiary insurance corporation under §58-27-26, together with its investments in insurance stocks under §58-27-25, may not at any time exceed the amount of the investing insurer's surplus, if a life insurer, or its surplus to policyholders if other than a life insurer. Any investment in a noninsurance majority owned corporation under §58-27-26 is subject to the limitations under §58-5A-73. Source: SL 1966, ch 111, ch 6, §16; SL 1969, ch 130; SL 1994, ch 385.
SD Codified L § 58-27-28 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-28 - Equipment trust obligations or certificates.

58-27-28. Equipment trust obligations or certificates.An insurer may invest in equipment trust obligations or certificates adequately secured and evidencing an interest in transportation equipment, wholly or in part within the United States of America, which obligations or certificates carry the right to receive determined portions of rental, purchase, or other fixed obligatory payments to be made for the use or purchase of such transportation equipment. Source: SL 1966, ch 111, ch 6, §12 (5).
SD Codified L § 58-27-29 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-29 - Foreign securities--Insurer authorized to do business in foreign country--Limitation as to amount.

58-27-29. Foreign securities--Insurer authorized to do business in foreign country--Limitation as to amount.An insurer authorized to transact insurance in a foreign country may make investments, in aggregate amount not exceeding its deposit and obligations incurred in such country, in securities of or in such country possessing characteristics and of a quality similar to like investments required pursuant to this chapter for investments in the United States of America. Canadian securities eligible for investment under other provisions of this chapter are not subject to this section. Source: SL 1966, ch 111, ch 6, §22.
SD Codified L § 58-27-30 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-30 - Collateral loans--Pledge of securities--Restricted amount.

58-27-30. Collateral loans--Pledge of securities--Restricted amount.An insurer may lend and thereby invest its funds upon the pledge of securities eligible for investment under this chapter. As of the date made, no such loan shall exceed in amount seventy-five percent of the market value of such collateral pledged. The amount so loaned shall be included pro rata in determining the maximum percentage of funds permitted under this chapter to be invested in the respective categories of securities so pledged. Source: SL 1966, ch 111, ch 6, §20.
SD Codified L § 58-27-31 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-31 - Policy loans by life insurer--Maximum amount.

58-27-31. Policy loans by life insurer--Maximum amount.A life insurer may lend to its policyholder upon pledge of the policy as collateral security, any sum not exceeding the cash surrender value of the policy; or may lend against pledge or assignment of any of its supplementary contracts or other contracts or obligations, so long as the loan is adequately secured by such pledge or assignment. Source: SL 1966, ch 111, ch 6, §19.
SD Codified L § 58-27-32 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-32 - Real estate mortgages and deeds of trust.

58-27-32. Real estate mortgages and deeds of trust.An insurer may invest any of its funds in bonds, notes, or other evidences of indebtedness which are secured by first mortgages or deeds of trust on improved unencumbered real property located in the United States. Source: SL 1966, ch 111, ch 6, §24 (1).
SD Codified L § 58-27-33 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-33 - Improved real property defined.

58-27-33. Improved real property defined.For the purposes of §58-27-32, "improved real property" shall constitute only farm lands used for tillage, crop or pasture, and real estate on which permanent improvements, or improvements under construction or in process of construction, suitable for residence, institutional, commercial, or industrial use, are situated. Source: SL 1966, ch 111, ch 6, §27.
SD Codified L § 58-27-34 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-34 - Interests and restrictions not constituting encumbrances upon improved real property.

58-27-34. Interests and restrictions not constituting encumbrances upon improved real property.Real property shall not be deemed to be encumbered within the meaning of §58-27-32 by reason of the existence of instruments reserving mineral, oil, timber, or similar rights, rights-of-way, sewer rights, rights in walls, nor by reason of any liens for taxes or assessments not yet due, or on account of liens not delinquent for community recreational facilities, or for the maintenance of community facilities, nor by reason of building restrictions or other restrictive covenants common to the community in which the property is located, nor by liens for service and maintenance of water rights where not delinquent, nor when such real property is subject to lease under which rents or profits are reserved to the owner if in any event the security for the loan or investment is a first lien upon the real property. Source: SL 1966, ch 111, ch 6, §28 (1).
SD Codified L § 58-27-36 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-36 - Bonds or notes secured by mortgage or trust deed guaranteed by federal housing administration.

58-27-36. Bonds or notes secured by mortgage or trust deed guaranteed by federal housing administration.An insurer may invest any of its funds in bonds or notes secured by mortgage or trust deed guaranteed or insured by the federal housing administration under the terms of an act of Congress of the United States of June 27, 1934, entitled the "National Housing Act," as amended. Source: SL 1966, ch 111, ch 6, §24 (4).
SD Codified L § 58-27-37 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-37 - Bonds or notes secured by mortgage or trust deed guaranteed by administrator of veterans' affairs.

58-27-37. Bonds or notes secured by mortgage or trust deed guaranteed by administrator of veterans' affairs.An insurer may invest any of its funds in bonds or notes secured by mortgage or trust deed guaranteed or insured as to principal in whole or in part by the administrator of veterans' affairs pursuant to the provisions of title III of an act of Congress of the United States of June 22, 1944, entitled the "Servicemen's Readjustment Act of 1944," as amended. Source: SL 1966, ch 111, ch 6, §24 (5).
SD Codified L § 58-27-38 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-38 - Equity of seller of real property in contract for deed--Maximum amount of investment.

58-27-38. Equity of seller of real property in contract for deed--Maximum amount of investment.An insurer may invest any of its funds in the equity of the seller of real property in a contract for deed, covering the entire balance due on a bona fide sale of such property, in amount not to exceed ten thousand dollars or the amount permissible under §§58-27-52 to 58-27-60, inclusive, whichever is greater, in any one such contract for deed; nor in any amount in excess of the following percentages of the actual sale price or fair value of the property, whichever is the smaller:(1)If a dwelling primarily designed for single-family occupancy and occupied by the purchaser under such contract, seventy-five percent.(2)In all other cases, seventy-five percent. Source: SL 1966, ch 111, ch 6, §24 (2).
SD Codified L § 58-27-39 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-39 - Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment.

58-27-39. Evidences of debt secured by mortgage or trust deed upon leasehold estates--Eligibility for investment.An insurer may invest any of its funds in evidences of debt secured by first mortgages or deeds of trust upon leasehold estates, running for a term of not less than fifteen years beyond the maturity of the loan as made or as extended, in improved real property, otherwise unencumbered, and if the mortgagee is entitled to be subrogated to all the rights under the leasehold. Source: SL 1966, ch 111, ch 6, §24 (6).
SD Codified L § 58-27-40 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-40 - Purchase money mortgage or other securities received by insurer upon sale or exchange of real property.

58-27-40. Purchase money mortgage or other securities received by insurer upon sale or exchange of real property.An insurer may invest any of its funds in purchase money mortgages or like securities received by it upon the sale or exchange of real property acquired pursuant to §58-27-50. Source: SL 1966, ch 111, ch 6, §24 (3).
SD Codified L § 58-27-41 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-41 - Maximum loan on security of real property--Misdemeanor.

58-27-41. Maximum loan on security of real property--Misdemeanor.An insurer shall not make or acquire a loan or loans upon the security of any one parcel of real property in aggregate amount in excess of ten thousand dollars or more than the amount permissible under §58-27-53, whichever is the greater. Violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111, ch 6, §26 (2); SL 1978, ch 359, §2.
SD Codified L § 58-27-42 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 27 - Loans And Investments Of Insurers|Section 58-27-42 - Real property mortgage loan limited by property value--Loan on leasehold--Additional investment in other assets.

58-27-42. Real property mortgage loan limited by property value--Loan on leasehold--Additional investment in other assets.No mortgage loan or investment in a mortgage loan upon any one parcel of real property may exceed in amount at the time of acquisition:(1)Seventy-five percent of the fair value of the property if the property is a dwelling house primarily intended for occupancy by one family and the loan is required to be amortized within not more than thirty years by payment of installments on the loan at regular intervals not less frequent than annually; or(2)Seventy-five percent of the fair value of the property in all other cases. However, the percentage may be up to one hundred percent if the loan is made to a corporation which qualifies under subdivision 58-27-17(2) for investment in its bonds, notes, or other evidences of indebtedness, or if the borrower assigns to the lender a noncancellable lease or leases on the real estate providing rentals payable to the borrower in amount sufficient to repay the loan with interest in the manner specified by the note or notes evidencing the loan and executed as lessee or lessees by a corporation or corporations, which qualified under subdivision 58-27-17(2) for investment in its or their bonds, notes, or other evidences of indebtedness and in each case the obligations of the borrower or of the lessee or lessees shall be rated in the three highest grades by any one of the recognized rating agencies or whose securities, if publicly issued, would qualify for a rating. The director shall define "noncancellable lease" and "recognized rating agencies" by regulation. No mortgage loan upon a leasehold may be made or acquired pursuant to this subdivision unless the terms of the mortgage loan shall provide for amortization payments to be made by the borrower on the principal thereof at least once in each year in amount sufficient to completely amortize the loan within four-fifths of the term of the leasehold which is unexpired at the time the loan is made, but in no event exceeding thirty years.(3)An additional ten percent of the fair value of the property in excess of the limitation imposed by subdivisions (1) and (2) of this section, but not to exceed one hundred percent in all, if the excess is treated as an investment under §58-27-51 and within the limitations imposed by the section.An insurer's investments authorized under this section may not exceed twenty five percent of its admitted assets. Source: SL 1966, ch 111, ch 6, §25 (1); SL 1967, ch 130; SL 1972, ch 265; SL 1992, ch 350, §20; SL 1995, ch 285, §1.