58-5A-45. Pre-acquisition notification--"Person" defined.
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/sd/title-58/chapter-58-5/58-5a-45A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any person acquiring assets pursuant to § 58-5A-3 shall file a pre - acquisition notification with the director containing the information set forth in § 58-5A-48 thirty days prior to the proposed effective date of the acquisition. Any person failing to file is subject to § 58-5A-53 . For the purposes of this section, "person" does not include any securities broker holding, in the usual and customary brokers function, less than twenty percent of the voting securities of an insurance company or of any person which controls an insurance company.