reglab/housing_qa huggingface dataset:
SD Codified L § 58-28-18 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-18 - Separate account not chargeable with liabilities from other business.

58-28-18. Separate account not chargeable with liabilities from other business.If and to the extent so provided under the applicable contracts, that portion of the assets of any such separate account equal to the reserves and other contract liabilities with respect to such account shall not be chargeable with liabilities arising out of any other business the insurer may conduct. Source: SL 1966, ch 111, ch 6, §36 as added by SL 1969, ch 131; SDCL Supp, §58-28-6.1; SL 1971, ch 266, §1 (5).
SD Codified L § 58-28-19 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-19 - Voting and other rights accorded to beneficiaries of accounts.

58-28-19. Voting and other rights accorded to beneficiaries of accounts.To the extent such insurer deems it necessary to comply with any applicable federal or state laws, such insurer, with respect to any separate account, including without limitation any separate account which is a management investment company or a unit investment trust, may provide for persons having an interest therein appropriate voting and other rights and special procedures for the conduct of the business of such account, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of independent public accountants, and the selection of a committee, the members of which need not be otherwise affiliated with such insurer, to manage the business of such account. Source: SL 1966, ch 111, ch 6, §36 as added by SL 1969, ch 131; SDCL Supp, §58-28-6.4; SL 1971, ch 266, §1 (7).
SD Codified L § 58-28-20 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-20 - Restrictions on transfers between accounts.

58-28-20. Restrictions on transfers between accounts.No sale, exchange, or other transfer of assets may be made by an insurer between any of its separate accounts or between any other investment account and one or more of its separate accounts unless, in case of a transfer into a separate account, such transfer is made solely to establish the account or to support the operation of the contracts with respect to the separate account to which the transfer is made, and unless such transfer, whether into or from a separate account, is made:(1)By a transfer of cash; or(2)By a transfer of securities having a readily determinable market value, provided that such transfer of securities is approved by the director.The director may approve other transfers among such accounts if, in his opinion, such transfers would not be inequitable. Source: SL 1966, ch 111, ch 6, §36 (8); §36 (6) as amended by SL 1967, ch 131; SDCL, §58-28-6; SL 1971, ch 266, §1 (6).
SD Codified L § 58-28-21 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-21 - Valuation of assets allocated to account.

58-28-21. Valuation of assets allocated to account.Unless otherwise approved by the director, assets allocated to a separate account shall be valued at their market value on the date of valuation, or if there is no readily available market, then as provided under the terms of the contract or the rules or other written agreement applicable to such separate account. Source: SL 1966, ch 111, ch 6, §36 (10); §36 (8) as amended by SL 1967, ch 131; SDCL, §58-28-8; SL 1971, ch 266, §1 (4).
SD Codified L § 58-28-22 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-22 - Valuation of portion of assets equal to reserve liability.

58-28-22. Valuation of portion of assets equal to reserve liability.Notwithstanding §58-28-21, unless otherwise approved by the director, the portion, if any, of the assets of such separate account equal to the insurer's reserve liability with regard to the guaranteed benefits and funds referred to in §58-28-14 shall be valued in accordance with the rules otherwise applicable to the insurer's assets. Source: SL 1971, ch 266, §1 (4).
SD Codified L § 58-28-23 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-23 - Contract to state procedure for determining amount of variable benefits.

58-28-23. Contract to state procedure for determining amount of variable benefits.Any contract providing benefits payable in variable amounts delivered or issued for delivery in this state shall contain a statement of the essential features of the procedures to be followed by the insurer in determining the dollar amount of such variable benefits. Source: SL 1966, ch 111, ch 6, §36 (4) as added by SL 1967, ch 131; SDCL, §58-28-4; SL 1971, ch 266, §2.
SD Codified L § 58-28-24 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-24 - Statement included as to variability of benefits.

58-28-24. Statement included as to variability of benefits.Any such contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state that such dollar amount will so vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis. Source: SL 1966, ch 111, ch 6, §36 (4) as added by SL 1967, ch 131; SDCL, §58-28-4; SL 1971, ch 266, §2.
SD Codified L § 58-28-24.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-24.1 - Right of annuitant to cancel--Refund by insurer.

58-28-24.1. Right of annuitant to cancel--Refund by insurer.Every individual variable annuity contract issued for delivery in South Dakota on or after July 1, 1978, shall contain a provision, or a notice attached to the contract, to the effect that during a period of ten days from the date the contract is delivered to the contract owner, it may be surrendered to the insurer together with a written request for cancellation of the contract and in such event, the insurer will pay to the contract owner an amount equal to the sum of:(1)The difference between the premiums paid and the amounts, if any, allocated to any separate accounts under the contract; and(2)The cash value of the contract on the date of surrender attributable to the amounts so allocated. Source: SL 1978, ch 361, §1.
SD Codified L § 58-28-24.2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-24.2 - Issuance of policies by insurance company or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.

58-28-24.2. Issuance of policies by insurance company or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.An insurance company or fraternal benefit society shall issue policies in this state for which an examination period is required in accordance with one of the following methods:(1)If the policy is delivered by an insurance producer, a receipt shall be signed by the policyowner acknowledging delivery of the policy. The receipt shall include the policy number and the date of the delivery;(2)If the policy is delivered by mail, it shall be sent by registered or certified mail, return receipt requested, or a certificate of mailing shall be obtained showing the date the policy was mailed to the policyowner. For policy issuances verified by a certificate of mailing, it is presumed that the policy is received by the policyowner ten days from the date of mailing.The receipts and the certificates of mailing described in this section shall be retained by the insurer for five years. If a producer obtains the delivery receipt, the producer shall forward the signed delivery receipt to the insurer. Source: SL 1982, ch 28, §18; SL 1987, ch 374, §5; SL 2001, ch 286, §136; SL 2002, ch 232, §4.
SD Codified L § 58-28-25 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-25 - Approval by director required for variable contracts.

58-28-25. Approval by director required for variable contracts.No domestic life insurer and no other life insurer admitted to transact business in this state shall deliver or issue for delivery within this state variable contracts, unless the director is satisfied that its condition or method of operation in connection with the issuance of such contracts will not render its operation hazardous to the public or its policyholders in this state. Source: SL 1966, ch 111, ch 6, §36 (9) as added by SL 1967, ch 131; SDCL, §58-28-9; SL 1971, ch 266, §3.
SD Codified L § 58-28-26 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-26 - Factors considered by director in examining variable contracts.

58-28-26. Factors considered by director in examining variable contracts.In connection with §58-28-25, the director shall consider among other things:(1)The history and financial condition of the insurer;(2)The character, responsibility, and fitness of the officers and directors of the insurer; and(3)The law and regulation under which the insurer is authorized in the state of domicile to issue variable contracts. Source: SL 1966, ch 111, ch 6, §36 (9) as added by SL 1967, ch 131; SDCL, §58-28-10; SL 1971, ch 266, §3.
SD Codified L § 58-28-27 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-27 - Affiliated insurer measured by factors applicable to parent.

58-28-27. Affiliated insurer measured by factors applicable to parent.If the insurer is a subsidiary of an admitted life insurer, or affiliated with such insurer through common management or ownership, it may be deemed by the director to have met the provisions of §§58-28-25 and 58-28-26 if either it or the parent or the affiliated insurer meets the requirements hereof. Source: SL 1971, ch 266, §3.
SD Codified L § 58-28-28 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-28 - Grace, reinstatement, and nonforfeiture provisions required.

58-28-28. Grace, reinstatement, and nonforfeiture provisions required.Any individual variable life insurance or annuity contracts delivered or issued for delivery in this state shall contain grace, reinstatement, and nonforfeiture provisions appropriate to such a contract. Source: SL 1971, ch 266, §5; SL 1977, ch 412, §21.
SD Codified L § 58-28-29 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-29 - Actuarial standards for reserve liability on variable contracts.

58-28-29. Actuarial standards for reserve liability on variable contracts.The reserve liability for variable contracts shall be established in accordance with actuarial procedures that recognize the variable nature of the benefits provided and any mortality guarantees. Source: SL 1971, ch 266, §5.
SD Codified L § 58-28-30 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-30 - General insurance law applicable--Exceptions.

58-28-30. General insurance law applicable--Exceptions. Except for §§58-15-13, 58-15-14, 58-15-15, 58-15-17, 58-15-18, 58-15-19, 58-15-21, 58-15-22, 58-15-29, 58-15-31, 58-15-32, 58-15-33, 58-15-34, 58-15-35, 58-15-36, 58-15-38, 58-15-39, and 58-27-108, as in the case of a variable life insurance policy, §§58-15-57, 58-15-62, 58-15-64, 58-15-65, 58-15-66, 58-15-83 to 58-15-93, inclusive, and 58-27-108, as in the case of a variable annuity contract and except as is otherwise provided in this chapter, all pertinent provisions of the insurance code apply to separate accounts and contracts relating thereto. Source: SL 1966, ch 111, ch 6, §36 (11) as added by SL 1967, ch 131; SDCL, §58-28-12; SL 1971, ch 266, §5; SL 1977, ch 412, §22; SL 1990, ch 30, §17; SL 1997, ch 294, §31; SL 2003, ch 251, §1; SL 2021, ch 210, § 17.
SD Codified L § 58-28-31 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-31 - Regulation of variable contracts by director--Rules--Review of contracts--Disclosure document.

58-28-31. Regulation of variable contracts by director--Rules--Review of contracts--Disclosure document.The director has sole authority to regulate the issuance and sale of variable contracts and promulgate rules to carry out the purposes and provisions of this chapter. The Division of Insurance may, upon request by the director, review the underlying investments in securities of variable contracts. The Division of Insurance may require filing a disclosure document with the Division of Insurance pursuant to chapter 47-31B. Source: SL 1966, ch 111, ch 6, §36(10) as added by SL 1967, ch 131; SDCL §58-28-11; SL 1969, ch 133; SL 1971, ch 266, §4; SL 1986, ch 22, §37; SL 1993, ch 365; SL 2004, ch 278, §66; SL 2017, ch 231 (Ex. Ord. 17-2), §19, eff. Apr. 13, 2017.
SD Codified L § 58-28-32 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-32 - Deferment of variable death benefits payment--Time period--State of emergency.

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. Source: SL 2003, ch 251, §2.
SD Codified L § 58-28-33 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 28 - Separate Life Insurance And Annuity Accounts|Section 58-28-33 - Promulgation of rules relating to variable life insurance policies--Uniformity--Limitations.

58-28-33. Promulgation of rules relating to variable life insurance policies--Uniformity--Limitations.The director may promulgate rules pursuant to chapter 1-26 relating to variable life insurance policies. In promulgating the rules, the director shall give substantial consideration to the standards contained in the National Association of Insurance Commissioners (NAIC) Variable Life Insurance Model Regulation and otherwise design the rules to achieve uniformity, to the degree reasonably possible, in the standards for variable life insurance. The rules shall be limited to the following:(1)Standards for suitability of sales and sales materials;(2)Policy benefit and design requirements;(3)Establishment and administration of separate accounts;(4)Disclosure requirements; and(5)Definition of terms. Source: SL 2003, ch 251, §3.
SD Codified L § 58-29A-54 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-54 - Scope of application of chapter.

58-29A-54. Scope of application of chapter.This chapter applies to any kind of direct insurance, but does not apply to:(1)Life, annuity, health, or disability insurance;(2)Mortgage guaranty, financial guaranty, or other forms of insurance offering protection against investment risks;(3)Fidelity or surety bonds, or any other bonding obligations;(4)Credit insurance, vendors' single-interest insurance, or collateral protection insurance, or any similar insurance protecting the interests of a creditor arising out of a creditor-debtor transaction;(5)Insurance of warranties or service contracts including insurance that provides for the repair, replacement, or service of goods or property or indemnification for repair, replacement, or service for the operational or structural failure of the goods or property due to a defect in materials or workmanship or to normal wear and tear, or provides reimbursement for the liability incurred by the issuer of agreements or service contracts that provide such benefits;(6)Title insurance;(7)Ocean marine insurance;(8)Any transaction or combination of transactions between a person, including affiliates of the person, and an insurer, including affiliates of the insurer, that involves the transfer of investment or credit risk unaccompanied by a transfer of insurance risk; or(9)Any insurance provided by or guaranteed or reinsured by any governmental body. Source: SL 2000, ch 247, §1.
SD Codified L § 58-29A-56 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-56 - Creation of association--Membership--Exercise of powers.

58-29A-56. Creation of association--Membership--Exercise of powers.There is created a nonprofit unincorporated legal entity to be known as the South Dakota Insurance Guaranty Association. Any insurer defined as a member insurer in subdivision 58-29A-55(9) is a member of the association as a condition of its authority to transact insurance in this state. The association shall perform its functions under a plan of operation established and approved under §§58-29A-83 to 58-29A-87, inclusive, and shall exercise its powers through a board of directors established under §§58-29A-57 and 58-29A-58. Source: SL 2000, ch 247, §3.
SD Codified L § 58-29A-57 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-57 - Board of directors--Appointment and terms of members--Vacancies on board.

58-29A-57. Board of directors--Appointment and terms of members--Vacancies on board.The board of directors of the association shall consist of seven persons, each of whom shall be appointed by the director for a term of three years and until a successor has been appointed and qualified. The director shall consult with member insurers concerning their recommendations for the board of directors. Any vacancy on the board shall be filled for the remaining period of the term by a majority vote of the remaining board members subject to the approval of the director. Source: SL 2000, ch 247, §4.
SD Codified L § 58-29A-58 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-58 - Representation of member insurers on board--Domestic insurers.

58-29A-58. Representation of member insurers on board--Domestic insurers.In approving selections to the board, the director shall consider, among other things, whether all member insurers are fairly represented. No less than two members of the board shall be domestic insurers. Source: SL 2000, ch 247, §5.
SD Codified L § 58-29A-59 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-59 - Reimbursement of director's expenses.

58-29A-59. Reimbursement of director's expenses.Members of the board may be reimbursed from the assets of the association for expenses incurred by them as members of the board of directors. Source: SL 2000, ch 247, §6.
SD Codified L § 58-29A-60 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-60 - General corporate powers of association.

58-29A-60. General corporate powers of association.The association may:(1)Employ or retain such persons as are necessary to handle claims and perform other duties of the association;(2)Borrow funds necessary to effect the purposes of this chapter in accord with the plan of operation;(3)Sue or be sued. The power to sue includes the power and right to intervene as a party before any court in this state that has jurisdiction over an insolvent insurer as defined by this chapter;(4)Negotiate and become a party to such contracts as are necessary to carry out the purpose of this chapter;(5)Perform such other acts as are necessary or proper to effectuate the purpose of this chapter. Source: SL 2000, ch 247, §7.
SD Codified L § 58-29A-61 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-61 - Tax exemption of association.

58-29A-61. Tax exemption of association.The association is exempt from payment of all fees and all taxes levied by this state or any of its subdivisions except taxes levied on real property. Source: SL 2000, ch 247, §8.
SD Codified L § 58-29A-62 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-62 - Notice to director of indications of member insolvency.

58-29A-62. Notice to director of indications of member insolvency.To aid in the detection and prevention of insurer insolvencies, it is the duty of the board of directors, upon majority vote, to notify the director of any information indicating any member insurer may be insolvent or in a financial condition hazardous to the policyholders or the public. Source: SL 2000, ch 247, §9.
SD Codified L § 58-29A-63 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-63 - Examination of insurer on request by board--Cost of examination--Handling of report.

58-29A-63. Examination of insurer on request by board--Cost of examination--Handling of report.To aid in the detection and prevention of insurer insolvencies, the board of directors may, upon majority vote, request that the director order an examination of any member insurer which the board in good faith believes may be in a financial condition hazardous to the policyholders or the public. Within thirty days of the receipt of such request, the director shall begin the examination. The examination may be conducted as a National Association of Insurance Commissioners' Examination or may be conducted by such persons as the director designates. The cost of the examination shall be paid by the association and the examination report shall be treated as are other examination reports. In no event may the examination report be released to the board of directors prior to its release to the public, but this does not preclude the director from complying with §58-29A-64. The director shall notify the board of directors when the examination is completed. The request for an examination shall be kept on file by the director but it may not be open to public inspection prior to the release of the examination report to the public. Source: SL 2000, ch 247, §10.
SD Codified L § 58-29A-64 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 29A - Insurance Guaranty Association|Section 58-29A-64 - Insolvency or hazardous condition reported to board of directors.

58-29A-64. Insolvency or hazardous condition reported to board of directors.The director shall report to the board of directors when the director has reasonable cause to believe that any member insurer examined or being examined at the request of the board of directors may be insolvent or in a financial condition hazardous to the policyholders or the public. Source: SL 2000, ch 247, §11.