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2021 South Dakota Codified Laws
Title 58 - Insurance
Chapter 15 - Life Insurance And Annuities
Section 58-15-23 - Participating policies--Annual dividends, ascertainment, and apportionment.
Universal Citation: SD Codified L § 58-15-23 (2021)
58-15-23. Participating policies--Annual dividends, ascertainment, and apportionment.
There shall be a provision in participating policies that, beginning not later than the end of the third policy year, the insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue on the policy anniversary or other dividend date specified in the policy provided the policy is in force and all premiums to that date are paid.
Source: SL 1966, ch 111, ch 23, ยง8 (1).
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