<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-27-53 - Maximum amount of investments or loans with one person, institution, corporation, or municipal corporation--Exceptions. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2075960Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2075960SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2075960CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2075960Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2075960DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2075960Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2075960000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2075960SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2075960SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2075960Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-53"><span class="s2075960SENU">58-27-53</span></a><span xml:space="preserve" class="s2075960SENU">. </span><span class="s2075960CL">Maximum amount of investments or loans with one person, institution, corporation, or municipal corporation--Exceptions.</span></p><p dir="ltr" class="s2075960Normal-000000"><span class="s2075960DefaultParagraphFont">An insurer may not, except with the consent of the director, have any combination of investments in or loans upon the security of the obligations, property, or securities of any one person, institution, corporation, or municipal corporation aggregating an amount exceeding five percent of the insurer's assets. This restriction does not apply to the following:</span></p><p dir="ltr" class="s2075960Normal-000001"><span class="s2075960DefaultParagraphFont">(1)    Bonds, notes, debentures, certificates, participations, or interest or other obligations issued by, or the payment of which is guaranteed or insured by, the United States Government or any agency or instrumentality or subdivision thereof;</span></p><p dir="ltr" class="s2075960Normal-000001"><span class="s2075960DefaultParagraphFont">(2)    Obligations of the Student Loan Marketing Association, the Federal National Mortgage Association, or the Federal Home Loan Mortgage Corporation;</span></p><p dir="ltr" class="s2075960Normal-000001"><span class="s2075960DefaultParagraphFont">(3)    Bonds, notes, debentures, or other obligations issued by, or the payment of which is guaranteed by, the State of South Dakota or any state as defined in subdivision 58-1-2(17); or</span></p><p dir="ltr" class="s2075960Normal-000001"><span xml:space="preserve" class="s2075960DefaultParagraphFont">(4)    Policy loans made under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-31"><span class="s2075960DefaultParagraphFont">58-27-31</span></a><span xml:space="preserve" class="s2075960DefaultParagraphFont"> or investments made pursuant to either § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-25"><span class="s2075960DefaultParagraphFont">58-27-25</span></a><span xml:space="preserve" class="s2075960DefaultParagraphFont"> or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-26"><span class="s2075960DefaultParagraphFont">58-27-26</span></a><span class="s2075960DefaultParagraphFont">, or both.</span></p><p dir="ltr" class="s2075960Normal"><span xml:space="preserve" class="s2075960000002"> </span></p><p dir="ltr" class="s2075960Normal"><span class="s2075960SCL">Source:</span><span xml:space="preserve" class="s2075960SCL-000003"> SL 1966, ch 111, ch 6, § 5 (1); SL 1983, ch 376, § 6; SL 1993, ch 364, § 1; SL 1997, ch 294, § 15; SL 2000, ch 245, § 1; SL 2017, ch 214, § 1.</span></p></div></body></html>