South Dakota Codified Laws 58-33-118. Solicitation or sale of life insurance or annuity to active duty service member
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Sections 58-33-117 to 58-33-130, inclusive, apply only to the solicitation or sale of any life insurance or annuity product by an insurer or insurance producer to an active duty service member of the armed forces of the United States.
Nothing in §§ 58-33-117 to 58-33-130, inclusive, creates a private cause of action for a violation of §§ 58-33-117 to 58-33-130, inclusive.
Terms Used In South Dakota Codified Laws 58-33-118
- 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 2008, ch 272, § 2.