<html> <head> <title>Rule 20:18:17:24.11 Annuities.</title> <META NAME="Keywords" Content="Administrative Rules 20:18:17:24.11"> <META NAME="Description" Content="Administrative Rules 20:18:17:24.11 Annuities."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 14 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:Calibri; panose-1:2 15 5 2 2 2 4 3 2 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; text-align:justify; font-size:12.0pt; font-family:"Times New Roman","serif";} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US> <div class=WordSection1> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:18:17</b><b>:24.11.&nbsp;&nbsp;Annuities.</b> Payments of large progressive or static jackpots exceeding $100,000 for twenty-five cent and one dollar devices and exceeding $20,000 for five cent devices may be paid in annual equal installments over a period of not more than 25 years or as otherwise approved by the executive secretary. A slot machine paying by annuity must have a notice prominently posted on it that the jackpot will be paid over time, the number of payments, and the time interval between the payments. The first payment must take place immediately after verification of the jackpot.</p> <p class=MsoNormal>&nbsp;</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 16 SDR 233, effective July 1, 1990; 19 SDR 21, effective August 20, 1992; 23 SDR 227, effective July 1, 1997; 40 SDR 101, effective December 2, 2013.</p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=42-7B-7">42-7B-7.</A></p> <p class=MsoNormal>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=42-7B-7">42-7B-7</A>, <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=42-7B-11">42-7B-11(13).</A></p> <p class=MsoNormal>&nbsp;</p> </div> </body> </html>