South Dakota Codified Laws 58-33-21. Reduced rate permitted for life or health insurance policies or annuity contracts on payroll deduction plan
Current as of: 2023 | Check for updates
|
Other versions
Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, issuing life or health insurance policies or annuity contracts on a salary savings or payroll deduction plan or other distribution plan at reduced rate reasonably commensurate with the savings made by the use of such plan.
Terms Used In South Dakota Codified Laws 58-33-21
- 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 1966, ch 111, ch 13, § 15 (5).