58-46-20. Loan to parent or affiliated entity.
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/sd/title-58/chapter-58-46/58-46-20·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A pure, agency, or trust captive insurance company may make a loan to its parent or affiliated entities. No loan to its parent or affiliated entities may be made without prior written approval of the director. A group, sponsored, or special purpose captive insurance company may make a loan to an affiliated entity if prior written approval by the director has been provided. The approval shall be evidenced by a note in a form approved by the director.