South Dakota Statutes
§ 58-33A-16.4 — Recommendation--Sale of annuity--Informed consumer.
South Dakota § 58-33A-16.4
JurisdictionSouth Dakota
Title 58INSURANCE
Ch. 58-32STANDARDS FOR ADVERTISEMENT, SOLICITATION, AND SALE OF LIFE AND HEALTH INSURANCE
This text of South Dakota § 58-33A-16.4 (Recommendation--Sale of annuity--Informed consumer.) 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 § 58-33A-16.4 (2026).
Text
Prior to or at the time of the recommendation or sale of an annuity, the producer shall have a reasonable basis to believe the consumer has been informed of various features of the annuity including the potential surrender period and surrender charge, potential tax penalty if the consumer sells, exchanges, surrenders, or annuitizes the annuity, mortality and expense fees, investment advisory fees, any annual fees, potential charges for and features of riders or other options of the annuity, limitations on interest returns, potential changes in non-guaranteed elements of the annuity, insurance and investment components, and market risk.
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Legislative History
SL 2022, ch 186, § 11, eff. Jan. 1, 2023.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 58-33A-16.4, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-33A-16.4.