South Dakota § 58-15-89 Election to have payments commence at optional maturity date--Maturity date used for calculation of benefits.

South Dakota Statutes

§ 58-15-89 — Election to have payments commence at optional maturity date--Maturity date used for calculation of benefits.

South Dakota § 58-15-89

Title 58INSURANCE

Ch. 58-13LIFE INSURANCE AND ANNUITIES

This text of South Dakota § 58-15-89 (Election to have payments commence at optional maturity date--Maturity date used for calculation of benefits.) 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 § 58-15-89 (2026).

Text

For the purpose of determining the benefits calculated under §§ 58-15-87 and 58-15-88 , in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election shall be permitted by the contract, but may not be deemed to be later than the anniversary of the contract next following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.

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For the purpose of determining the benefits calculated under §§ 58-15-87 and 58-15-88 , in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date shall be deemed to be the latest date for which election shall be permitted by the contract, but may not be deemed to be later than the anniversary of the contract next following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.