ARSD 20:06:04:08. Profits in estates

After the 12-month period following their appointment or qualification the persons named in § 20:06:04:07 shall be required to file reports under SDCL 58-5-69 with respect to the securities held by the estates which they administer and shall be liable for profits realized from trading in such securities pursuant to SDCL 58-5-71 to 58-5-73, inclusive, only when the estate being administered is a beneficial owner of more than 10 percent of any class of equity security of an insurer subject to the act.