<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 13-63-12 - Changing designated beneficiary.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s02546765c3bd4a73a535aaa906eec4cdNormal { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s02546765c3bd4a73a535aaa906eec4cdSENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s02546765c3bd4a73a535aaa906eec4cdCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s02546765c3bd4a73a535aaa906eec4cdStatute { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s02546765c3bd4a73a535aaa906eec4cd000000 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s02546765c3bd4a73a535aaa906eec4cdNoIndent { text-indent: 0.00in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont-000001 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s02546765c3bd4a73a535aaa906eec4cdSCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 13-63-12 - Changing designated beneficiary."><meta property="og:description" content="SDLRC Codified Law 13-63-12 - Changing designated beneficiary."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=13-63-12"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s02546765c3bd4a73a535aaa906eec4cdNormal"><a href="https://sdlegislature.gov/Statutes?Statute=13-63-12" rel="noopener"><span class="s02546765c3bd4a73a535aaa906eec4cdSENU">13-63-12</span></a><span xml:space="preserve" class="s02546765c3bd4a73a535aaa906eec4cdSENU">. </span><span class="s02546765c3bd4a73a535aaa906eec4cdCL">Changing designated beneficiary.</span></p><p dir="ltr" class="s02546765c3bd4a73a535aaa906eec4cdStatute"><span xml:space="preserve" class="s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont">An account owner may change the designated beneficiary of an account to an individual who is a member of the family of the former designated beneficiary or to any other individual in accordance with this section or with procedures established by the council by rules promulgated pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes?Statute=1-26" rel="noopener"><span class="s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont">1-26</span></a><span class="s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont">.</span></p><p dir="ltr" class="s02546765c3bd4a73a535aaa906eec4cdStatute"><span class="s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont">To change the designated beneficiary, the owner shall certify to the financial institution the name, address, social security number, and relationship of the new designated beneficiary to the previously named designated beneficiary. The change is effective upon the financial institution's receipt of the certification.</span></p><p dir="ltr" class="s02546765c3bd4a73a535aaa906eec4cdNormal"><span xml:space="preserve" class="s02546765c3bd4a73a535aaa906eec4cd000000"> </span></p><p dir="ltr" class="s02546765c3bd4a73a535aaa906eec4cdNoIndent"><span xml:space="preserve" class="s02546765c3bd4a73a535aaa906eec4cdDefaultParagraphFont-000001">Source: </span><span class="s02546765c3bd4a73a535aaa906eec4cdSCL">SL 2001, ch 97, § 12; SL 2022, ch 49, § 5.</span></p></div></body></html>