reglab/housing_qa huggingface dataset:
SD Codified L § 58-15-43.9 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-43.9 - Nonforfeiture interest rate.

58-15-43.9. Nonforfeiture interest rate.The nonforfeiture interest rate is:(1)For policies issued prior to the operative date of the valuation manual, the nonforfeiture interest rate per annum for any policy issued in a particular calendar year is equal to one hundred twenty-five percent of the calendar year statutory valuation interest rate for the policy as defined in the standard valuation law, rounded to the nearer one quarter of one percent, provided that the nonforfeiture rate may not be less than four percent;(2)For policies issued on or after the operative date of the valuation manual the forfeiture interest rate per annum for any policy issued in a particular calendar year is provided by the valuation manual. Source: SL 1982, ch 357, §13; SL 2015, ch 254, §42.
SD Codified L § 58-15-43.10 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-43.10 - Refiling of nonforfeiture values or methods of computation.

58-15-43.10. Refiling of nonforfeiture values or methods of computation.Notwithstanding any other provision in this code to the contrary, any refiling of nonforfeiture values or their methods of computation for any previously approved policy form which involves only a change in the interest rate or mortality table used to compute nonforfeiture values do not require refiling of any other provisions of that policy form. Source: SL 1982, ch 357, §14.
SD Codified L § 58-15-43.11 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-43.11 - Notice of election to comply with revised nonforfeiture.

58-15-43.11. Notice of election to comply with revised nonforfeiture.After July 1, 1982, any insurer may file with the director of the Division of Insurance a written notice of its election to comply with the provisions of §§58-15-43.1 to 58-15-43.11, inclusive, after a specified date before January 1, 1989, which shall be the effective date of §§58-15-43.1 to 58-15-43.11, inclusive, for the insurer. If an insurer makes no election, the operative date of this section for such insurer is January 1, 1989. Source: SL 1982, ch 357, §15.
SD Codified L § 58-15-43.12 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-43.12 - Insurance plans to conform to minimum standards of nonforfeiture laws.

58-15-43.12. Insurance plans to conform to minimum standards of nonforfeiture laws.In the case of any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurer based on then estimates of future experience, or in the case of any plan of life insurance which is of such a nature that minimum values cannot be determined by the methods described in §§58-15-31 to 58-15-38, inclusive, and §§58-15-43.1 to 58-15-43.11, inclusive, then the director of the Division of Insurance must be satisfied that the benefits provided under the plan are substantially as favorable to policy holders and insureds as the minimum benefits otherwise required by those sections. Further, the director must be satisfied that the benefits and the pattern of premiums of that plan do not mislead prospective policyholders or insureds. In addition the cash surrender values and paid-up nonforfeiture benefits provided by the plan may not be less than the minimum values and benefits required for the plan computed by a method consistent with the principles of this chapter, as determined by regulations promulgated by the director. Source: SL 1982, ch 357, §16.
SD Codified L § 58-15-44 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-44 - Dating back of application for insurance to reduce premium prohibited--Contract not invalidated.

58-15-44. Dating back of application for insurance to reduce premium prohibited--Contract not invalidated. No insurer may knowingly deliver or issue for delivery in this state any life insurance policy that purports to be issued or to take effect as of a date more than six months before the application therefor was made, if thereby the premium on the policy is reduced below the premium that would be payable thereon as determined by the insuring age of the insured at the time when such application was made. No insurance producer or other representative of an insurer may in this state prepare, submit, or accept any application for life insurance that bears a date earlier than the date when the application was made by the insured or applicant, if thereby the premium on the contract is reduced as above stated. Nothing contained in this section invalidates any contract made in violation of this section. This section does not prohibit the exchange, alteration, or conversion of any policy of life insurance. Source: SL 1966, ch 111, ch 23, §35; SL 2001, ch 286, §109; SL 2021, ch 210, § 8.
SD Codified L § 58-15-45 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-45 - Excluding or restricting coverage in case of death--Permissible exclusions.

58-15-45. Excluding or restricting coverage in case of death--Permissible exclusions.No policy of life insurance may be delivered or issued for delivery in this state if it contains any provision which excludes or restricts liability for death caused in a certain specified manner or occurring while the insured has a specified status. However, a policy may contain provisions excluding or restricting coverage as specified in the policy in the event of death under any one or more of the following circumstances:(1)Death as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any act or hazard of such war or action, or of service in the military, naval, or air forces or in civilian forces auxiliary thereto, or from any cause while a member of such military, naval, or air forces of any country at war, declared or undeclared, or of any country engaged in such military action. However, this exclusion is not enforceable unless the applicant is affirmatively advised at the time of delivery of the policy that the policy in question contains war clause exclusions;(2)Death as a result of aviation or any air travel or flight;(3)Death as a result of a specified hazardous occupation or occupations;(4)Death within two years from the date of issue of the policy as a result of suicide, while sane or insane;(5)Any other exclusion or restriction the director may adopt, by rule promulgated pursuant to chapter 1-26, if the exclusion or restriction is in the best interest of the insurance buying public. Source: SL 1966, ch 111, ch 23, §26 (1) (b); SL 1992, ch 346; SL 2002, ch 233, §1.
SD Codified L § 58-15-46 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-46 - Excluding or restricting coverage in case of death--Return of premiums, adjustment for indebtedness and dividend credits.

58-15-46. Excluding or restricting coverage in case of death--Return of premiums, adjustment for indebtedness and dividend credits.A policy which contains any exclusion or restriction pursuant to §58-15-45 shall also provide that in the event of death under the circumstances to which any such exclusion or restriction is applicable, the insurer will return all premiums received under the policy with adjustment for indebtedness and dividend credits. If the policy is a variable policy, the insurer may, if the policy so provides, return all premiums received under the policy with adjustment for indebtedness and adjustment to reflect the investment experience of the separate account. Source: SL 1966, ch 111, ch 23, §26 (2); SL 2001, ch 54, §7.
SD Codified L § 58-15-47 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-47 - Prohibited policy provisions--Person soliciting insurance or annuity insurance producer of insured.

58-15-47. Prohibited policy provisions--Person soliciting insurance or annuity insurance producer of insured.No policy of life insurance may be delivered or issued for delivery in this state if it contains any provision to the effect that the insurance producer soliciting the insurance or annuity is the insurance producer of the person covered under such contract, or making the acts or representations of such insurance producer binding upon the person so covered. Source: SL 1966, ch 111, ch 23, §26 (1) (f); SL 2001, ch 286, §110.
SD Codified L § 58-15-48 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-48 - Prohibited policy provisions--Construction of contract according to laws of other state or country.

58-15-48. Prohibited policy provisions--Construction of contract according to laws of other state or country.No policy of life insurance shall be delivered or issued for delivery in this state if it contains any provision that the contract is to be construed according to the laws of any other state or country. Source: SL 1966, ch 111, ch 23, §26 (1) (c).
SD Codified L § 58-15-49 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-49 - Prohibited policy provisions--Rights and obligations of insured under contract governed by law of other state.

58-15-49. Prohibited policy provisions--Rights and obligations of insured under contract governed by law of other state.No policy of life insurance shall be delivered or issued for delivery in this state if it contains any provision that the rights and obligations of the insured or any person claiming under such contract are to be governed by any other than the laws of this state. Source: SL 1966, ch 111, ch 23, §26 (1) (d).
SD Codified L § 58-15-50 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-50 - Prohibited policy provisions--Depriving courts of jurisdiction of action against insurer.

58-15-50. Prohibited policy provisions--Depriving courts of jurisdiction of action against insurer.No policy of life insurance shall be delivered or issued for delivery in this state if it contains any provision depriving the courts of this state of the jurisdiction of any action at law or in equity against the insurer. Source: SL 1966, ch 111, ch 23, §26 (1) (e).
SD Codified L § 58-15-51 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-51 - Limitation of action on policy--Minimum time.

58-15-51. Limitation of action on policy--Minimum time.No policy of life insurance shall be delivered or issued for delivery in this state if it contains any provision limiting the time within which an action at law or in equity may be commenced on such a policy to less than six years after the cause of action shall accrue. Source: SL 1966, ch 111, ch 23, §26 (1) (a).
SD Codified L § 58-15-52 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-52 - Prohibited policy provisions inapplicable to group life insurance, health insurance, reinsurance, annuities, and accident benefits under life insurance policy.

58-15-52. Prohibited policy provisions inapplicable to group life insurance, health insurance, reinsurance, annuities, and accident benefits under life insurance policy.The provisions of §§58-15-45 to 58-15-51, inclusive, do not apply to health insurance, reinsurance, or annuities. The provisions of §§58-15-46 to 58-15-51, inclusive, do not apply to group life or to any provision in a life insurance policy or contract supplemental thereto relating to health benefits or to additional benefits in the event of death by accidental means. However, the provisions of §58-15-45 apply to group life insurance and to any provision in a life insurance policy or contract supplemental thereto relating to health benefits or to additional benefits in the event of death by accidental means. Source: SL 1966, ch 111, ch 23, §26 (3); SL 2006, ch 253, §1.
SD Codified L § 58-15-53 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-53 - Use of prohibited policy provision which is more favorable to insured.

58-15-53. Use of prohibited policy provision which is more favorable to insured.Nothing contained in §§58-15-45 to 58-15-51, inclusive, shall prohibit any provision which in the opinion of the director is more favorable to the policyholder than a provision permitted by said sections. Source: SL 1966, ch 111, ch 23, §26 (4).
SD Codified L § 58-15-54 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-54 - Prohibited policy provisions in industrial life insurance--Denial of liability because of other insurance.

58-15-54. Prohibited policy provisions in industrial life insurance--Denial of liability because of other insurance.No policy of industrial life insurance shall contain any provision by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer. Source: SL 1966, ch 111, ch 23, §27 (1).
SD Codified L § 58-15-55 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-55 - Prohibited policy provisions in industrial life insurance--Right to declare policy void because of disease or ailment of insured.

58-15-55. Prohibited policy provisions in industrial life insurance--Right to declare policy void because of disease or ailment of insured.No policy of industrial life insurance shall contain any provision giving the insurer the right to declare the policy void because the insured has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical, or surgical treatment, except a provision which gives the insurer the right to declare the policy void if the insured has, within two years prior to the issuance of the policy, received institutional, hospital, medical, or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning such treatment or attention was not of a serious nature or was not material to the risk. Source: SL 1966, ch 111, ch 23, §27 (2).
SD Codified L § 58-15-57 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-57 - Annuity and endowment contracts--Standard provisions required, exceptions.

58-15-57. Annuity and endowment contracts--Standard provisions required, exceptions.No annuity or pure endowment contract, other than reversionary, survivorship, or group annuities and except as stated herein or in §58-15-58, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in §§58-15-59 to 58-15-64, inclusive. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein. Source: SL 1966, ch 111, ch 23, §18 (1).
SD Codified L § 58-15-58 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-58 - Standard provisions of annuity and endowment contracts inapplicable to deferred annuities under life insurance policies.

58-15-58. Standard provisions of annuity and endowment contracts inapplicable to deferred annuities under life insurance policies.Section 58-15-57 shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies. Source: SL 1966, ch 111, ch 23, §18 (2).
SD Codified L § 58-15-59 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-59 - Annuities and endowments--Entire agreement contained in contract and application.

58-15-59. Annuities and endowments--Entire agreement contained in contract and application.In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract shall constitute the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, a provision that the contract and the application therefor shall constitute the entire contract between the parties. Source: SL 1966, ch 111, ch 23, §21.
SD Codified L § 58-15-59.1 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-59.1 - Right of annuitant or purchaser to cancel after receipt of contract--Effect of cancellation.

58-15-59.1. Right of annuitant or purchaser to cancel after receipt of contract--Effect of cancellation.Every individual annuity contract, excluding variable annuity contracts, issued for delivery in South Dakota on or after July 1, 1978, by an insurance company or fraternal benefit society, shall have printed on or attached to the annuity contract, a notice stating in substance that the person to whom the annuity contract is issued shall be permitted to return the annuity contract, with a written request for cancellation within ten days of its actual receipt by the purchaser, and to have the premium paid refunded if, after examination of the annuity contract, the purchaser is not satisfied with it for any reason. If annuitant or purchaser pursuant to the notice, returns the annuity contract to the company or fraternal benefit society at its home or branch office or to the insurance producer through whom it was purchased, it is void from the beginning and the parties are in the same position as if no annuity contract had been issued. Source: SL 1978, ch 361, §1; SL 2001, ch 286, §111.
SD Codified L § 58-15-59.2 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-59.2 - Issuance of policies by insurance company or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.

58-15-59.2. 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, §2; SL 2001, ch 286, §112; SL 2002, ch 232, §2.
SD Codified L § 58-15-60 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-60 - Effect of misstatement of age or sex in annuity or endowment contract.

58-15-60. Effect of misstatement of age or sex in annuity or endowment contract.In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that if the age or sex of the person upon whose life the contract is made, or if any of them has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payments to the insurer would have purchased according to the correct age or sex and that if the insurer shall make or has made any overpayment on account of any such misstatement, the amount thereof with interest at the rate to be specified in the contract but not exceeding six percent per annum, may be charged against the current or next succeeding payments to be made by the insurer under the contract. Source: SL 1966, ch 111, ch 23, §22.
SD Codified L § 58-15-61 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-61 - Incontestability provision in annuity or endowment contract.

58-15-61. Incontestability provision in annuity or endowment contract.If any statements, other than those relating to age, sex, and identity are required as a condition to issuing an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, and subject to §58-15-60, there shall be a provision that the contract shall be incontestable after it has been in force during the lifetime of the person or of each of the persons as to whom such statements are required, for a period of two years from its date of issue, except for nonpayment of stipulated payments to the insurer; and at the option of the insurer such contract may also except any provisions relative to benefits in the event of disability and any provisions which grant insurance specifically against death by accidental means. Source: SL 1966, ch 111, ch 23, §20.
SD Codified L § 58-15-62 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-62 - Grace period in annuity or endowment contract.

58-15-62. Grace period in annuity or endowment contract.In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that there shall be a period of grace of not less than thirty days, within which any stipulated payment to the insurer falling due after the first payment may be made, during which period of grace the contract shall continue in full force; but in case a claim arises under the contract on account of death prior to expiration of the period of grace before the overdue payment to the insurer or the deferred payments of the current contract year, if any, are made, the amount of such payments may be deducted from any amount payable under the contract in settlement. Source: SL 1966, ch 111, ch 23, §19.
SD Codified L § 58-15-63 (2021)
2021 South Dakota Codified Laws|Title 58 - Insurance|Chapter 15 - Life Insurance And Annuities|Section 58-15-63 - Participating annuity or endowment contract--Ascertainment and apportionment of divisible surplus.

58-15-63. Participating annuity or endowment contract--Ascertainment and apportionment of divisible surplus.If an annuity or pure endowment contract, other than reversionary, survivorship, or group annuity, is participating, there shall be a provision that the insurer shall annually ascertain and apportion any divisible surplus accruing on the contract. Source: SL 1966, ch 111, ch 23, §23.