Notwithstanding the provisions of this chapter, if an insurer fails to locate a beneficiary following a beneficiary search, the insurer shall report and remit the proceeds pursuant to chapter 43-41B.

Any insurer subject to §§ 58-15-94 to 58-15-108, inclusive, shall comply with all applicable requirements in chapter 43-41B.

Terms Used In South Dakota Codified Laws 58-15-108

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC

Source: SL 2018, ch 280, § 15.

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