58-5A-44. Disposition of investment in subsidiary upon cessation of control--Waiver.If an insurer ceases to control a subsidiary, it shall dispose of the investment in the subsidiary within three years from the time of the cessation of control or within further time as the director may prescribe upon written request by the insurer. If the investment qualifies for investment under any other section of this chapter, and the insurer has notified the director in writing of that qualification, the disposition requirement may be waived by the director. Source: SL 1992, ch 341, §3.
South Dakota Legal Code