S.D. Admin. R. 20:06:31:04.12

Current through Register Vol. 51, page 57, November 12, 2024

Section 20:06:31:04.12 - Limitations on investment companies

Investments made by a trust in investment companies pursuant to § 20:06:31:04.11 may not exceed the following limitations:

(1) An investment in an investment company qualifying under subdivision 20:06:31:04.11(1) may not exceed ten percent of the assets in the trust and the aggregate amount of investment in qualifying investment companies may not exceed 25 percent of the assets in the trust; and

(2) Investments in an investment company qualifying under subdivision 20:06:31:04.11(2) may not exceed five percent of the assets in the trust and the aggregate amount of investment in qualifying investment companies shall be included when calculating the permissible aggregate value of equity interests pursuant to subdivision 20:06:31:04.09(1).

S.D. Admin. R. 20:06:31:04.12

44 SDR 71, effective 10/23/2017

General Authority: SDCL 58-14-17.

Law Implemented: SDCL 58-14-16, 58-14-17, 58-14-20.