58-7-30. Right of insurer to deposited assets and securities during solvency.
While the insurer remains solvent and is in compliance with this title it may:
(1)Demand, receive, sue for, and recover the income from the assets or securities deposited;
(2)Exchange and substitute for the deposited assets or securities, or any part thereof, other eligible assets or securities of equivalent or greater value; and
(3)At any reasonable time inspect any such deposit.
Source: SL 1966, ch 111, ch 7, ยง10.
Structure South Dakota Codified Laws
Chapter 07 - Insurers' Deposits With State
Section 58-7-2 - Assets acceptable for deposit of reserves.
Section 58-7-3 - Credit of other deposit against reserve deposit.
Section 58-7-4 - Annual deposit of additional securities to cover increase of reserves.
Section 58-7-5 - Ineligibility for deposit of securities in default.
Section 58-7-6 - Authorized deposits of insurers.
Section 58-7-7 - Purpose of deposits.
Section 58-7-8 - Certificates of deposit--Eligible securities--Purpose of deposits.
Section 58-7-16 - Record by director of assets deposited.
Section 58-7-17 - Release of assigned security--Reassignment to insurer or other person.
Section 58-7-18 - Deposit of reserves in financial institutions.
Section 58-7-20 - Terms of depository or custodial arrangements for deposit of reserves.
Section 58-7-21 - Forms and terms of depository or custodial arrangement.
Section 58-7-22 - Compensation and expenses of depository or custodian borne by insurer.
Section 58-7-23 - Nonliability of director and state for safekeeping by custodian.
Section 58-7-24 - Custodial arrangements--Termination by director--New arrangements.
Section 58-7-25 - Effect of deposit in foreign state.
Section 58-7-26 - Sufficiency of deposit--Valuation of assets.
Section 58-7-28 - Appraisal or valuation of deposited assets or securities--Cost borne by insurer.
Section 58-7-30 - Right of insurer to deposited assets and securities during solvency.
Section 58-7-31 - Levy upon deposited assets and securities.
Section 58-7-32 - Deposits by foreign or alien insurers not subject to taxation.
Section 58-7-33 - Duration of deposit of assets and securities.
Section 58-7-34 - Release of deposit on request of domestic insurer.
Section 58-7-35 - Return of deposit of foreign insurer.
Section 58-7-36 - Return of deposit upon merger or consolidation of insurer.
Section 58-7-38 - Release of deposited assets--Terms--Nonliability of director acting in good faith.