South Dakota Codified Laws 58-33A-25.3. Insurer to verify producer has completed annuity training course
Current as of: 2023 | Check for updates
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An insurer shall verify that a producer has completed the annuity training course required pursuant to § 58-33A-25.1 before allowing the producer to sell an annuity product for that insurer. An insurer may satisfy its responsibility under this section by obtaining certificates of completion of the training course or obtaining reports provided by a director-sponsored database system or vendor or from a reasonably reliable commercial database vendor that has a reporting arrangement with an approved insurance education provider.
Terms Used In South Dakota Codified Laws 58-33A-25.3
- 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 2012, ch 250, § 13; SL 2022, ch 186, § 27, eff. Jan. 1, 2023.