South Dakota Codified Laws 58-33A-19. Reasonableness under circumstances known to insurer
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An insurer’s issuance of an annuity subject to § 58-33A-18 shall be reasonable under all the circumstances actually known to the insurer at the time the annuity is issued.
Terms Used In South Dakota Codified Laws 58-33A-19
- 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.
Source: SL 2008, ch 273, § 7; SL 2012, ch 250, § 5; SL 2022, ch 186, § 17, eff. Jan. 1, 2023.