<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 58-5-157 - Investment of funds in securities. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074147Normal { 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.s2074147SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074147CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074147Normal-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.s2074147DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2074147Normal-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.s2074147000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074147SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074147SCL-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="s2074147Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-5-157"><span class="s2074147SENU">58-5-157</span></a><span xml:space="preserve" class="s2074147SENU">. </span><span class="s2074147CL">Investment of funds in securities.</span></p><p dir="ltr" class="s2074147Normal-000000"><span xml:space="preserve" class="s2074147DefaultParagraphFont">In addition to any investment permitted pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-5-156"><span class="s2074147DefaultParagraphFont">58-5-156</span></a><span class="s2074147DefaultParagraphFont">, a qualified education loan insurer may also invest any amount in common stock, preferred stock, debt obligations, and other securities, including without limitation, membership in a limited liability company, of any subsidiary engaged or organized to engage in any of the following:</span></p><p dir="ltr" class="s2074147Normal-000001"><span xml:space="preserve" class="s2074147DefaultParagraphFont">(1)    The principal or beneficial ownership and management of assets authorized as investments for the qualified education loan insurer under § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-5-156"><span class="s2074147DefaultParagraphFont">58-5-156</span></a><span class="s2074147DefaultParagraphFont">; or</span></p><p dir="ltr" class="s2074147Normal-000001"><span class="s2074147DefaultParagraphFont">(2)    The origination, administration, and servicing of education loans, the provision of services to any school, lender, student, and borrower and otherwise providing services for any educational purposes.</span></p><p dir="ltr" class="s2074147Normal"><span xml:space="preserve" class="s2074147000002"> </span></p><p dir="ltr" class="s2074147Normal"><span class="s2074147SCL">Source:</span><span xml:space="preserve" class="s2074147SCL-000003"> SL 1998, ch 287, § 4.</span></p></div></body></html>