2006 South Dakota Code - 3-13A-25 — Limitation of liability to participants.

     3-13A-25.   Limitation of liability to participants. Neither the program nor any participating unit is liable to any participant for losses arising out of any decrease in the value of any investments held under the program. The liability of the program to any participant is limited to the value of the participant's account on the date the participant chooses to begin payment pursuant to the provisions of the program. In no event may any member of the board, the administrator, or any member of the administrator's staff have any liability for any action taken with respect to the program unless such action has been taken in bad faith.

Source: SL 2004, ch 43, § 24; SDCL, § 3-12-188; SL 2005, ch 28, § 1.