South Dakota Codified Laws 58-26-64. Minimum standard of valuation for individual annuity and pure endowmentcontracts and group annuity and pure endowment contracts on or after July1, 1995
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Except as provided in §§ 58-26-71 to 58-26-74, inclusive, the minimum standard of valuation for individual annuity and pure endowment contracts issued on or after July 1, 1995, and for annuities and pure endowments purchased on or after July 1, 1995, under group annuity and pure endowment contracts, are the commissioners’ reserve valuation methods defined in §§ 58-26-75 and 58-26-76 and the tables and interest rates set forth in §§ 58-26-65 to 58-26-69, inclusive.
Terms Used In South Dakota Codified Laws 58-26-64
- 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.
Source: SL 1995, ch 284, § 20; SL 2015, ch 254, § 11.