South Dakota § 58-15-15.13 Private placement policy defined.

South Dakota Statutes

§ 58-15-15.13 — Private placement policy defined.

South Dakota § 58-15-15.13

Title 58INSURANCE

Ch. 58-13LIFE INSURANCE AND ANNUITIES

This text of South Dakota § 58-15-15.13 (Private placement policy defined.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-15-15.13 (2026).

Text

A private placement policy is a variable annuity contract or a variable life insurance policy that is:

(1)Issued exclusively to a person who is an accredited investor or a qualified purchaser, as such terms are defined in the federal Securities Act of 1933 or the federal Investment Company Act of 1940, or in regulations promulgated under either such statute; and (2) Offered for sale and sold in a transaction that is exempt from registration under the federal Securities Act of 1933.

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A private placement policy is a variable annuity contract or a variable life insurance policy that is: (1) Issued exclusively to a person who is an accredited investor or a qualified purchaser, as such terms are defined in the federal Securities Act of 1933 or the federal Investment Company Act of 1940, or in regulations promulgated under either such statute; and (2) Offered for sale and sold in a transaction that is exempt from registration under the federal Securities Act of 1933.