§ 58-28-13 Life insurers authorized to establish separate accounts–Allocations to provide insurance or annuities
§ 58-28-14 Approval required to maintain guaranteed benefits and funds in separate account
§ 58-28-15 Securities in which investment authorized–Not considered in applying company’s investment limitations
§ 58-28-16 Gains and losses from allocated assets credited or charged to separate account
§ 58-28-17 Ownership by insurer–Not a trustee
§ 58-28-18 Separate account not chargeable with liabilities from other business
§ 58-28-19 Voting and other rights accorded to beneficiaries of accounts
§ 58-28-20 Restrictions on transfers between accounts
§ 58-28-21 Valuation of assets allocated to account
§ 58-28-22 Valuation of portion of assets equal to reserve liability
§ 58-28-23 Contract to state procedure for determining amount of variable benefits
§ 58-28-24 Statement included as to variability of benefits
§ 58-28-24.1 Right of annuitant to cancel–Refund by insurer
§ 58-28-24.2 Issuance of policies by insurance company or fraternal benefit society–Delivery receipts–Certificates of mailing–Term of retention
§ 58-28-25 Approval by director required for variable contracts
§ 58-28-26 Factors considered by director in examining variable contracts
§ 58-28-27 Affiliated insurer measured by factors applicable to parent
§ 58-28-28 Grace, reinstatement, and nonforfeiture provisions required
§ 58-28-29 Actuarial standards for reserve liability on variable contracts
§ 58-28-30 General insurance law applicable–Exceptions
§ 58-28-31 Regulation of variable contracts by director–Rules–Review of contracts–Disclosure document
§ 58-28-32 Deferment of variable death benefits payment–Time period–State of emergency
§ 58-28-33 Promulgation of rules relating to variable life insurance policies–Uniformity–Limitations
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Terms Used In South Dakota Codified Laws > Title 58 > Chapter 28 - Separate Life Insurance and Annuity Accounts

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
  • Trustee: A person or institution holding and administering property in trust.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2