58-27-67. Underwriting of securities or property prohibited.
No insurer shall underwrite or participate in the underwriting of an offering of securities or property by any other person.
Source: SL 1966, ch 111, ch 6, §34 (2).
Structure South Dakota Codified Laws
Chapter 27 - Loans And Investments Of Insurers
Section 58-27-1 - Application of chapter.
Section 58-27-2 - Eligible investments by insurers--Violation as misdemeanor.
Section 58-27-3 - Time of determination of eligibility of investment.
Section 58-27-4 - Prior legal investment deemed eligible.
Section 58-27-5 - Acquisition of ineligible securities or property--Disposition.
Section 58-27-7 - Investments required to produce income--Exemptions--Rules.
Section 58-27-9 - Obligations of United States or Canada.
Section 58-27-10 - Loans guaranteed by United States or Canada.
Section 58-27-11 - Obligations of states, provinces, and political subdivisions.
Section 58-27-12 - Revenue bonds of states, provinces, and political subdivisions.
Section 58-27-12.1 - Maximum investments in bonds, warrants, and evidence of indebtedness.
Section 58-27-13 - Obligations or stock of federal agencies.
Section 58-27-14 - Certificates of deposit in federally insured banks.
Section 58-27-15 - Federally insured savings and loan accounts.
Section 58-27-15.1 - Credit Union accounts.
Section 58-27-17 - Investments authorized for insurers.
Section 58-27-23 - Nonassessable common stock of corporation--Insurance stocks excepted.
Section 58-27-24 - Stock of solvent insurers meeting requirements.
Section 58-27-26 - Investments in stock of majority owned subsidiary corporations.
Section 58-27-28 - Equipment trust obligations or certificates.
Section 58-27-30 - Collateral loans--Pledge of securities--Restricted amount.
Section 58-27-31 - Policy loans by life insurer--Maximum amount.
Section 58-27-32 - Real estate mortgages and deeds of trust.
Section 58-27-33 - Improved real property defined.
Section 58-27-41 - Maximum loan on security of real property--Misdemeanor.
Section 58-27-43 - Deduction from loan of amount guaranteed by administrator of veterans' affairs.
Section 58-27-44 - Appraisal to determine market value of property.
Section 58-27-46 - "Durable equipment" defined.
Section 58-27-48 - Liens on personal property as additional security permitted.
Section 58-27-49 - Sale of mortgage loans to federal national mortgage association.
Section 58-27-50 - Restrictions on purposes and amount of real estate investments.
Section 58-27-51 - Maximum investments in other assets--Exceptions.
Section 58-27-51.1 - Additional investment authority--Life and health insurers.
Section 58-27-51.2 - Additional investment authority--Property and casualty insurers.
Section 58-27-51.3 - Additional investment authority--Valuation of investments.
Section 58-27-52 - Limits on categories of investments.
Section 58-27-54 - Maximum amount of investment in voting stock of corporation--Exceptions.
Section 58-27-56 - Minimum investments by life insurer.
Section 58-27-57 - Maximum amount of investment in certain classes of securities.
Section 58-27-58 - Limitations on investments in corporate stock--Exceptions.
Section 58-27-60 - Limits of investments in real estate--Law governing.
Section 58-27-61 - Investment or loans on own capital stock.
Section 58-27-62 - Loan secured by own stock as collateral.
Section 58-27-64 - Affiliate defined.
Section 58-27-66 - Pension or profit-sharing trust agreement not prohibited.
Section 58-27-67 - Underwriting of securities or property prohibited.
Section 58-27-68 - Foreign insurer--Permitted investment portfolio--Domicile of alien insurer.
Section 58-27-69 - Authorization of investment or loan by board or committee of insurer.
Section 58-27-73 - Immediate disposal of ineligible property or security unlawfully acquired.
Section 58-27-74 - Disposal of lawfully acquired ineligible property--Extension of time.
Section 58-27-75 - Ineligible personal property or securities not allowable as assets of insurer.
Section 58-27-77 - Immediate disposal of ineligible investment unlawfully acquired.
Section 58-27-78 - Nominee holding investments--Definitions.
Section 58-27-79 - Name in which investments held.
Section 58-27-80 - Holding in name of clearing corporation, custodian bank or nominee--Conditions.
Section 58-27-82 - Participation in federal reserve book-entry system.
Section 58-27-84 - Evidence of investment required in absence of certificate.
Section 58-27-87 - Banking patronage as prerequisite to issuance of insurance policy prohibited.
Section 58-27-89 - Definition of terms.
Section 58-27-90 - Limitations on acquiring medium or lower grade obligations.
Section 58-27-91 - Obligations contracted prior to July 1, 1992.
Section 58-27-92 - Multiple obligations in same institution.
Section 58-27-94 - Limit on amount invested in medium or lower grade obligations.
Section 58-27-95 - Restructuring of medium or lower grade obligation already held.
Section 58-27-96 - Conflicting provisions.
Section 58-27-97 - Excess transactions.
Section 58-27-98 - Promulgation of rules.
Section 58-27-99 - Application of §§ 58-27-89 to 58-27-102.
Section 58-27-100 - Time limit for compliance with §§ 58-27-89 to 58-27-102.
Section 58-27-101 - Investment in money market funds.
Section 58-27-102 - Investment in company owned life insurance contracts.
Section 58-27-103 - Investment in a collateralized pool of mortgages--Requirements--Restrictions.
Section 58-27-105 - Foreign investments.
Section 58-27-107 - Ratification of investment.
Section 58-27-108 - Rating and valuation of investments--Requirements--Divestment.
Section 58-27-109 - Institution defined.
Section 58-27-110 - Title plans investments.
Section 58-27-111 - Joint venture and limited partnership investments.