<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-15-59 - Annuities and endowments--Entire agreement contained in contract and application. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074822Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2074822SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074822CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074822Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2074822DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074822000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074822SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074822SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2074822Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-59"><span class="s2074822SENU">58-15-59</span></a><span xml:space="preserve" class="s2074822SENU">. </span><span class="s2074822CL">Annuities and endowments--Entire agreement contained in contract and application.</span></p><p dir="ltr" class="s2074822Normal-000000"><span class="s2074822DefaultParagraphFont">In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract shall constitute the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, a provision that the contract and the application therefor shall constitute the entire contract between the parties.</span></p><p dir="ltr" class="s2074822Normal"><span xml:space="preserve" class="s2074822000001"> </span></p><p dir="ltr" class="s2074822Normal"><span class="s2074822SCL">Source:</span><span xml:space="preserve" class="s2074822SCL-000002"> SL 1966, ch 111, ch 23, § 21.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-15-59 - Annuities and endowments--Entire agreement contained in contract and application. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074823Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2074823SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074823CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074823Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2074823DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074823000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074823SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074823SCL-000002 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } </style></head><body><div><p dir="ltr" class="s2074823Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-59.1"><span class="s2074823SENU">58-15-59.1</span></a><span xml:space="preserve" class="s2074823SENU">. </span><span class="s2074823CL">Right of annuitant or purchaser to cancel after receipt of contract--Effect of cancellation.</span></p><p dir="ltr" class="s2074823Normal-000000"><span class="s2074823DefaultParagraphFont">Every individual annuity contract, excluding variable annuity contracts, issued for delivery in South Dakota on or after July 1, 1978, by an insurance company or fraternal benefit society, shall have printed on or attached to the annuity contract, a notice stating in substance that the person to whom the annuity contract is issued shall be permitted to return the annuity contract, with a written request for cancellation within ten days of its actual receipt by the purchaser, and to have the premium paid refunded if, after examination of the annuity contract, the purchaser is not satisfied with it for any reason. If annuitant or purchaser pursuant to the notice, returns the annuity contract to the company or fraternal benefit society at its home or branch office or to the insurance producer through whom it was purchased, it is void from the beginning and the parties are in the same position as if no annuity contract had been issued.</span></p><p dir="ltr" class="s2074823Normal"><span xml:space="preserve" class="s2074823000001"> </span></p><p dir="ltr" class="s2074823Normal"><span class="s2074823SCL">Source:</span><span xml:space="preserve" class="s2074823SCL-000002"> SL 1978, ch 361, § 1; SL 2001, ch 286, § 111.</span></p></div></body></html><br /><hr><br /><html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-15-59 - Annuities and endowments--Entire agreement contained in contract and application. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074824Normal { 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.s2074824SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074824CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074824Normal-000000 { 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.s2074824DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2074824Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2074824Normal-000002 { text-indent: 0.25in; 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.s2074824000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074824SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074824SCL-000004 { 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></head><body><div><p dir="ltr" class="s2074824Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-59.2"><span class="s2074824SENU">58-15-59.2</span></a><span xml:space="preserve" class="s2074824SENU">. </span><span class="s2074824CL">Issuance of policies by insurance company or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.</span></p><p dir="ltr" class="s2074824Normal-000000"><span class="s2074824DefaultParagraphFont">An insurance company or fraternal benefit society shall issue policies in this state for which an examination period is required in accordance with one of the following methods:</span></p><p dir="ltr" class="s2074824Normal-000001"><span class="s2074824DefaultParagraphFont">(1)    If the policy is delivered by an insurance producer, a receipt shall be signed by the policyowner acknowledging delivery of the policy. The receipt shall include the policy number and the date of the delivery;</span></p><p dir="ltr" class="s2074824Normal-000001"><span class="s2074824DefaultParagraphFont">(2)    If the policy is delivered by mail, it shall be sent by registered or certified mail, return receipt requested, or a certificate of mailing shall be obtained showing the date the policy was mailed to the policyowner. For policy issuances verified by a certificate of mailing, it is presumed that the policy is received by the policyowner ten days from the date of mailing.</span></p><p dir="ltr" class="s2074824Normal-000002"><span class="s2074824DefaultParagraphFont">The receipts and the certificates of mailing described in this section shall be retained by the insurer for five years. If a producer obtains the delivery receipt, the producer shall forward the signed delivery receipt to the insurer.</span></p><p dir="ltr" class="s2074824Normal"><span xml:space="preserve" class="s2074824000003"> </span></p><p dir="ltr" class="s2074824Normal"><span class="s2074824SCL">Source:</span><span xml:space="preserve" class="s2074824SCL-000004"> SL 1982, ch 28, § 18; SL 1987, ch 374, § 2; SL 2001, ch 286, § 112; SL 2002, ch 232, § 2.</span></p></div></body></html>