South Dakota Codified Laws 58-28-25. Approval by director required for variable contracts
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No domestic life insurer and no other life insurer admitted to transact business in this state shall deliver or issue for delivery within this state variable contracts, unless the director is satisfied that its condition or method of operation in connection with the issuance of such contracts will not render its operation hazardous to the public or its policyholders in this state.
Terms Used In South Dakota Codified Laws 58-28-25
- 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
Source: SL 1966, ch 111, ch 6, § 36 (9) as added by SL 1967, ch 131; SDCL, § 58-28-9; SL 1971, ch 266, § 3.