<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 58-27-54 - Maximum amount of investment in voting stock of corporation--Exceptions. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2075961Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2075961SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2075961CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2075961Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2075961DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2075961000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2075961SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2075961SCL-000002 { 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="s2075961Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-54"><span class="s2075961SENU">58-27-54</span></a><span xml:space="preserve" class="s2075961SENU">. </span><span class="s2075961CL">Maximum amount of investment in voting stock of corporation--Exceptions.</span></p><p dir="ltr" class="s2075961Normal-000000"><span xml:space="preserve" class="s2075961DefaultParagraphFont">An insurer may not invest in or hold at any one time more than ten percent of the outstanding voting stock of any corporation, except with respect to voting rights of preference stock during default and of dividends; this section does not apply to stock of a majority owned subsidiary of the insurer or to controlling stock of an insurer acquired under §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-24"><span class="s2075961DefaultParagraphFont">58-27-24</span></a><span xml:space="preserve" class="s2075961DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-26"><span class="s2075961DefaultParagraphFont">58-27-26</span></a><span class="s2075961DefaultParagraphFont">, inclusive.</span></p><p dir="ltr" class="s2075961Normal"><span xml:space="preserve" class="s2075961000001"> </span></p><p dir="ltr" class="s2075961Normal"><span class="s2075961SCL">Source:</span><span xml:space="preserve" class="s2075961SCL-000002"> SL 1966, ch 111, ch 6, § 5 (2); SL 1983, ch 376, § 7.</span></p></div></body></html>