South Dakota Codified Laws 58-27-26. Investments in stock of majority owned subsidiary corporations
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With the consent of the director of the Division of Insurance, an insurer may invest in the stock of its majority owned subsidiary insurance corporation; or in the stock of any other majority owned corporation.
Terms Used In South Dakota Codified Laws 58-27-26
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
Source: SL 1966, ch 111, ch 6, § 16; SL 1969, ch 130; SL 1983, ch 376, § 3.