Chapters 58-10 to 58-12, inclusive, apply as to all insurance contracts and annuity contracts, other than:

(1) Reinsurance;

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Terms Used In South Dakota Codified Laws 58-10-1

  • 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.
  • 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

(2) Policies or contracts not issued for delivery in this state or not delivered in this state, except as provided in §§ 58-11-12 to 58-11-20, inclusive.

Source: SL 1966, ch 111, ch 22, § 1 (1), (2); SL 1967, ch 129, § 6.