There is a newer version
of
this Section
2017 South Dakota Codified Laws
Title 51A - BANKS AND BANKING
Chapter 04 - General Powers Of Banks
§ 51A-4-25.1 Annuity defined.
Universal Citation: SD Codified L § 51A-4-25.1 (2017)
51A-4-25.1. Annuity defined. For the purposes of § 51A-4-25, an annuity is an investment that credits interest from the inception of the contract, has an interest guarantee period that may be from thirty days to one year in length, and is backed by the assets of the insurer. The insurer shall be rated in the top three categories of both Standard and Poor's Corporation and Moody's Investors Service. The annuity shall be fully liquid, unless otherwise provided for by Title 58. The annuity may not be subject to any surrender charge.
Source: SL 2002, ch 219, § 2; SL 2005, ch 252, § 1.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
