South Dakota Statutes
§ 58-28-32 — Deferment of variable death benefits payment--Time period--State of emergency.
Except if variable death benefits are used to pay premiums, the payment of variable death benefits in excess of any minimum death benefits, cash values, policy loans, or partial withdrawals, or the payment of variable death benefits in excess of any partial surrenders, may be deferred either:
(1)For up to six months from the date of the request, if the payments are based on policy values that do not depend on the investment performance of the separate account; or (2) For any period during which the New York stock exchange is closed for trading, except for normal holiday closing, or for any period during which the securities and exchange commission determines that a state of emergency exists which may make such payment impractical.
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South Dakota § 58-28-32 (Deferment of variable death benefits payment--Time period--State of emergency.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2003, ch 251, § 2.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.