South Dakota Statutes
§ 3-12C-701 — Benefits only payable monthly--Lump-sum payments prohibited unless specified.
A member in the system may claim the benefits provided for in this chapter only in the form of a monthly benefit payment and only after such time as these benefits are payable. Unless otherwise specifically provided, no member or a former member of the system may receive a lump-sum cash payment in lieu of the normal retirement benefit.
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South Dakota § 3-12C-701 (Benefits only payable monthly--Lump-sum payments prohibited unless specified.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1967, ch 303, § 8; SDCL § 3-12-29; SL 1968, ch 216, § 1; SL 1970, ch 25, § 7; SL 1974, ch 35, § 66; SL 2017, ch 27, § 22; SDCL §