58-27-5. Acquisition of ineligible securities or property--Disposition.
No provision of this chapter shall prohibit the acquisition by an insurer of other or additional securities or property if received as a dividend or as a lawful distribution of assets, or under a lawful and bona fide agreement of bulk reinsurance, merger, or consolidation. Any investment so acquired which is not otherwise eligible under this chapter shall be disposed of pursuant to §§58-27-73 and 58-27-74 if personal property or securities, or pursuant to §§58-27-70 to 58-27-72, inclusive, if real property.
Source: SL 1966, ch 111, ch 6, §3 (3).