58-5-94. Assets of domestic insurer to be maintained in state--Exceptions.
72 words·~1 min read·
/sd/title-58/chapter-58-5/58-5-94A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every domestic insurer shall have and maintain its assets in this state, except as to:
(1)Real property and personal property appurtenant thereto lawfully owned by the insurer and located outside this state; and
(2)Such property of the insurer as may be customary, necessary, and convenient to enable and facilitate the operation of its branch offices and "regional home offices" located outside this state as referred to in § 58-5-97 .