South Dakota § 58-33-126 Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair.

South Dakota Statutes

§ 58-33-126 — Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair.

South Dakota·Title 58 INSURANCE·Ch. 58-32 UNFAIR TRADE PRACTICES

The following acts or practices by an insurer or insurance producer are declared to be false, misleading, deceptive, or unfair:

(1)Using or describing the credited interest rate on a life insurance policy in a manner that implies that the credited interest rate is a net return on premium paid; or (2) Excluding individually issued annuities, misrepresenting the mortality costs of a life insurance product, including, stating, or implying that the product costs nothing or is free.

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The following acts or practices by an insurer or insurance producer are declared to be false, misleading, deceptive, or unfair: (1) Using or describing the credited interest rate on a life insurance policy in a manner that implies that the credited interest rate is a net return on premium paid; or (2) Excluding individually issued annuities, misrepresenting the mortality costs of a life insurance product, including, stating, or implying that the product costs nothing or is free.

South Dakota § 58-33-126 (Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.