South Dakota § 58-33A-18 Conditions resulting in no obligation to consumer.

South Dakota Statutes

§ 58-33A-18 — Conditions resulting in no obligation to consumer.

South Dakota·Title 58 INSURANCE·Ch. 58-32 STANDARDS FOR ADVERTISEMENT, SOLICITATION, AND SALE OF LIFE AND HEALTH INSURANCE

Except as provided pursuant to § 58-33A-19 , a producer has no obligation to a consumer under §§ 58-33A-16.1 to 58-33A-16.3 , inclusive, and § 58-33A-17 related to any annuity transaction if:

(1)A consumer refuses to provide relevant consumer profile information and the annuity transaction is not recommended;

(2)A consumer decides to enter into an annuity transaction that is not based on a recommendation of the producer;

(3)A recommendation was made and was later found to have been prepared based on materially inaccurate information provided by the consumer; or (4) No recommendation is made.

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Except as provided pursuant to § 58-33A-19 , a producer has no obligation to a consumer under §§ 58-33A-16.1 to 58-33A-16.3 , inclusive, and § 58-33A-17 related to any annuity transaction if: (1) A consumer refuses to provide relevant consumer profile information and the annuity transaction is not recommended; (2) A consumer decides to enter into an annuity transaction that is not based on a recommendation of the producer; (3) A recommendation was made and was later found to have been prepared based on materially inaccurate information provided by the consumer; or (4) No recommendation is made.

South Dakota § 58-33A-18 (Conditions resulting in no obligation to consumer.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.