<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 58-27-93 - Written plans for making medium or lower grade obligations--Contents of plan--Deadline. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2076000Normal { 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.s2076000SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2076000CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2076000Normal-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.s2076000DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2076000000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2076000SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2076000SCL-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="s2076000Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-27-93"><span class="s2076000SENU">58-27-93</span></a><span xml:space="preserve" class="s2076000SENU">. </span><span class="s2076000CL">Written plans for making medium or lower grade obligations--Contents of plan--Deadline.</span></p><p dir="ltr" class="s2076000Normal-000000"><span class="s2076000DefaultParagraphFont">The board of directors of any domestic insurance company which acquires or invests in, directly or indirectly, medium or lower grade obligations of any institution, shall adopt a written plan for the making of those investments. The plan, in addition to guidelines with respect to the quality of the issues invested in, shall contain diversification standards including standards for issuer, industry, duration, liquidity, and geographic location. Within one year from July 1, 1992, the board shall have adopted a plan.</span></p><p dir="ltr" class="s2076000Normal"><span xml:space="preserve" class="s2076000000001"> </span></p><p dir="ltr" class="s2076000Normal"><span class="s2076000SCL">Source:</span><span xml:space="preserve" class="s2076000SCL-000002"> SL 1992, ch 350, § 5.</span></p></div></body></html>