South Dakota Codified Laws 58-5A-59. Notification to director of certain investments into one corporation
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The director shall be notified within thirty days of any investment of the domestic insurer in any one corporation if the total investment in the corporation by the insurance holding company system exceeds ten percent of the corporation’s voting securities.
Terms Used In South Dakota Codified Laws 58-5A-59
- 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 1992, ch 341, § 24.