2019 South Dakota Codified Laws
Title 58 - Insurance
Chapter 33A - Standards For Advertisement, Solicitation, And Sale Of Life And Health Insurance
§ 58-33A-13 Definition of terms.
58-33A-13. Definition of terms. Terms used in §§ 58-33A-14 to 58-33A-27, inclusive, mean:
(1) "Annuity," a fixed annuity or variable annuity that is individually solicited, whether the product is classified as an individual or group annuity;
(2) "Insurer," a company required to be licensed under the laws of this state to provide insurance products, including annuities;
(3) "Insurance producer," a person required to be licensed under the laws of this state to sell, solicit or negotiate insurance, including annuities;
(4) "Recommendation," advice provided by an insurance producer, or an insurer where no producer is involved, to an individual consumer that results in a purchase or exchange of an annuity in accordance with that advice.
Source: SL 2008, ch 273, § 1.
