2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 33 - Unfair Trade Practices
§ 58-33-5.1 Rules to promote proper disclosure of terms and conditions of life insurance policies.
58-33-5.1. Rules to promote proper disclosure of terms and conditions of life insurance policies. The director of insurance shall promulgate rules pursuant to chapter 1-26 to promote the proper disclosure of the terms and conditions of life insurance policies and to prohibit the misrepresentation of life insurance policies through the establishment of minimum standards for the advertisement and solicitation of life insurance. The rules shall provide for illustration formats, prescribe standards to be followed when illustrations are used, and specify the disclosures that are required in connection with illustrations. In setting the standards, the director shall consider the models adopted by the National Association of Insurance Commissioners, including the Life Insurance Illustrations Model Regulation.
Source: SL 1997, ch 296, ยง 1.
