South Dakota Codified Laws 58-33-138. Value-added product or service–Permitted raffles or drawings described
Current as of: 2023 | Check for updates
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An insurer or producer may conduct raffles or drawings to the extent permitted by state law as long as there is no financial cost to entrants to participate, the drawing or raffle does not obligate participants to purchase insurance, the prizes are not valued in excess of a reasonable amount as determined by the director, and the drawing or raffle is open to the public. The raffle or drawing must be offered in a manner that is not unfairly discriminatory. The consumer may not be required to purchase, continue to purchase, or renew a policy in exchange for the gift, item, or service.
Terms Used In South Dakota Codified Laws 58-33-138
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
Source: SL 2023, ch 167, § 3.