58-7-8. Certificates of deposit--Eligible securities--Purpose of deposits.All such deposits required under §§58-6-33 to 58-6-35, inclusive, for authority to transact insurance in this state shall consist of certificates of deposit, or any combination of securities of the kinds described in §§58-27-9, 58-27-11, 58-27-12, 58-27-14, and 58-27-15. Deposits made in this state under §§58-6-33 to 58-6-35, inclusive, shall be held for the purpose stated in §58-6-34. Source: SL 1966, ch 111, ch 7, §§3 (1), 4 (1).
South Dakota Legal Code