§ 58-33A-1 Applicability of chapter
§ 58-33A-2 Purpose of chapter
§ 58-33A-3 “Advertisement” defined
§ 58-33A-4 Certain material and communication not deemed to be advertisement
§ 58-33A-5 Outline of coverage to accompany all health insurance policies or subscriber contracts–Acknowledgment of receipt or certificate of delivery
§ 58-33A-6 Format and content of outline of coverage–“Format” defined–Outline of coverage requirements
§ 58-33A-7 Director authorized to promulgate rules–Scope of rules
§ 58-33A-8 Required disclosures to be clear and conspicuous
§ 58-33A-8.1 Disclosure of usual, customary, and reasonable limitation provision required
§ 58-33A-9 Buyer’s guide and policy summary to be provided to all prospective life insurance purchasers–Illustration in lieu of policy summary–Director authorized to promulgate rules
§ 58-33A-10 Advertisements not to be deceptive or misleading–Standard to be used in determination
§ 58-33A-11 Insurer to maintain file of advertisements–Division may inspect files–Period for which files must be maintained
§ 58-33A-12 Director’s prior approval may be required–Other remedies not precluded
§ 58-33A-13 Definitions
§ 58-33A-14 Recommendations to purchase or exchange annuities subject to requirements
§ 58-33A-15 Exemptions from requirements
§ 58-33A-16 Annuity–Best interest standard–Material control or influence
§ 58-33A-16.1 Annuity–Recommendation–Producer responsibilities
§ 58-33A-16.2 Recommendation–Producer responsibilities–Applicability and intent
§ 58-33A-16.3 Considerations for annuity replacement or exchange
§ 58-33A-16.4 Recommendation–Sale of annuity–Informed consumer
§ 58-33A-16.5 Recommendation–Sale of annuity–Disclosure to consumer
§ 58-33A-16.6 Additional disclosure upon request
§ 58-33A-16.7 Disclosure of producer conflicts of interest required–Certain factors excluded
§ 58-33A-18 Conditions resulting in no obligation to consumer
§ 58-33A-19 Reasonableness under circumstances known to insurer
§ 58-33A-19.2 Producer obligations–Documentation–Time of recommendation or sale
§ 58-33A-19.3 Issuance by insurer to be reasonable and address consumer needs
§ 58-33A-20 Insurer’s system for supervising recommendations
§ 58-33A-20.1 Contract for performance of supervision system functions–Responsibility for corrective action–Supervision of performance
§ 58-33A-20.2 Prohibited conduct by insurance producer
§ 58-33A-25 Compliance with comparable standards by financial professional
§ 58-33A-25.1 Insurance producer to have adequate knowledge of annuity product–Required training
§ 58-33A-25.2 Annuity training course providers–Training requirements of other states
§ 58-33A-25.3 Insurer to verify producer has completed annuity training course
§ 58-33A-25.4 Authorized insurance business–Other licenses
§ 58-33A-25.5 Definition of terms–Compliance with Conduct Rules
§ 58-33A-26 Corrective action for violations
§ 58-33A-27 Records regarding recommendations
§ 58-33A-28 Multi-state plan sale or solicitation of health insurance outside of exchange prohibited
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Terms Used In South Dakota Codified Laws > Title 58 > Chapter 33A - Standards for Advertisement, Solicitation, and Sale of Life and Health Insurance

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Dependent: A person dependent for support upon another.
  • Fiduciary: A trustee, executor, or administrator.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2