No basic insurance policy or annuity contract form, or group certificate form, or application form where written application is required and is to be made a part of the policy or contract, or printed rider or endorsement form or form of renewal certificate, shall be delivered or issued for delivery in this state, unless the form has been filed with and approved by the director, except that certificates delivered, but not solicited in this state, pursuant to a group policy issued or delivered outside the State of South Dakota shall be filed with the director for informational purposes. A form filed with the director for informational purposes does not exempt that group policy or certificate from complying with any other applicable provisions of Title 58 or state law.

Terms Used In South Dakota Codified Laws 58-11-12

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • State: when used in context signifying a jurisdiction other than the State of South Dakota, a state, the District of Columbia, a territory, commonwealth, or possession of the United States of America, or a province of the Dominion of Canada. See South Dakota Codified Laws 58-1-2
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2

Source: SL 1966, ch 111, ch 22, § 13 (1); SL 1975, ch 308; SL 1996, ch 291.

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