2015 South Dakota Codified Laws
Title 3 - PUBLIC OFFICERS AND EMPLOYEES
Chapter 12 - South Dakota Retirement System
§ 3-12-198 Exemption from Title 58 and from securities and agent registration.
3-12-198. Exemption from Title 58 and from securities and agent registration.
While performing their official duties under the provisions of §§ 3-12-189 to 3-12-198, inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from the provisions of Title 58 and any associated provisions of state law. Supplemental pension benefits and supplemental pension contracts are exempt from the provisions of Title 58.
To the extent that supplemental pension contracts may be deemed to be securities, they are exempt from securities registration pursuant to subdivision 47-31B-201(1). While performing their official duties under the provisions of §§ 3-12-189 to 3-12-198, inclusive, the board, the employees of the system, the system's actuary, the State Investment Council, and the employees of the State Investment Council are exempt from agent registration provisions pursuant to subdivision 47-31B-402(b)(3).
Source: SL 2008, ch 24, § 11.
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