South Dakota Codified Laws 58-5A-46. “Acquisition” and “Involved insurer” defined–Limited application
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The following definitions shall only apply to §§ 58-5A-47 to 58-5A-53, inclusive:
(1) “Acquisition,” any agreement, arrangement, or activity the consummation of which results in a person acquiring directly or indirectly the control of another person, and includes the acquisition of voting securities, assets, bulk reinsurance, and mergers; and
Terms Used In South Dakota Codified Laws 58-5A-46
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
(2) “Involved insurer,” an insurer which either acquires or is acquired, is affiliated with an acquirer or acquired or is the result of a merger.
Source: SL 1992, ch 341, § 8.