South Dakota Codified Laws 58-33-125. Misleading as to endorsement, sponsorship, or recommendation by armed forces or government agency considered false, misleading, deceptive, or unfair
The following acts or practices by an insurer or insurance producer are declared to be false, misleading, deceptive, or unfair:
(1) Making any representation, or using any device, title, descriptive name or identifier that has the tendency or capacity to confuse or mislead a service member into believing that the insurer, insurance producer or product offered is affiliated, connected or associated with, endorsed, sponsored, sanctioned or recommended by the United States government, the armed forces of the United States, or any state or federal agency or government entity. Examples of prohibited insurance producer titles include Battalion Insurance Counselor, Unit Insurance Advisor, Servicemen’s Group Life Insurance Conversion Consultant, or Veteran’s Benefits Counselor. Nothing in this subdivision prohibits a person from using a professional designation awarded after the successful completion of a course of instruction in the business of insurance by an accredited institution of higher learning. Such designations include Chartered Life Underwriter, Chartered Financial Consultant, Certified Financial Planner, Master of Science In Financial Services, or Masters of Science Financial Planning; or
Terms Used In South Dakota Codified Laws 58-33-125
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- 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
(2) Soliciting the purchase of any life insurance product through the use of or in conjunction with any third party organization that promotes the welfare of or assists members of the armed forces of the United States in a manner that has the tendency or capacity to confuse or mislead a service member into believing that either the insurer, insurance producer, or insurance product is affiliated, connected, or associated with, or endorsed, sponsored, sanctioned, or recommended by the United States government or the armed forces of the United States.
Source: SL 2008, ch 272, § 9.