South Dakota Codified Laws 58-26-3. Valuation of securities other than evidences of debt
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Securities, other than those referred to in § 58-26-2, held by an insurer, shall be valued, in the discretion of the director, at their market value, or at their appraised value, or at prices determined by him as representing their fair market value.
Terms Used In South Dakota Codified Laws 58-26-3
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
Source: SL 1966, ch 111, ch 5, § 13 (1).