<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 58-26-83 - Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in § 58-26-75, 58-26-76, 58-26-81, or 58-26-82. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2075883Normal { 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.s2075883SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2075883CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2075883Normal-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.s2075883DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2075883Normal-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; } span.s2075883000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2075883SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2075883SCL-000003 { 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="s2075883Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-83"><span class="s2075883SENU">58-26-83</span></a><span xml:space="preserve" class="s2075883SENU">. </span><span xml:space="preserve" class="s2075883CL">Requirements for reserves for life insurance providing for future premium determination or for reserves undeterminable under methods in § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-75"><span class="s2075883CL">58-26-75</span></a><span xml:space="preserve" class="s2075883CL">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-76"><span class="s2075883CL">58-26-76</span></a><span xml:space="preserve" class="s2075883CL">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-81"><span class="s2075883CL">58-26-81</span></a><span xml:space="preserve" class="s2075883CL">, or </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-82"><span class="s2075883CL">58-26-82</span></a><span class="s2075883CL">.</span></p><p dir="ltr" class="s2075883Normal-000000"><span xml:space="preserve" class="s2075883DefaultParagraphFont">Any plan of life insurance which provides for future premium determination, the amounts of which are to be determined by the insurance company based on then estimates of future experience, or in the case of any plan of life insurance or annuity which is of a nature that the minimum reserves cannot be determined by the methods described in §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-75"><span class="s2075883DefaultParagraphFont">58-26-75</span></a><span xml:space="preserve" class="s2075883DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-76"><span class="s2075883DefaultParagraphFont">58-26-76</span></a><span xml:space="preserve" class="s2075883DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-81"><span class="s2075883DefaultParagraphFont">58-26-81</span></a><span xml:space="preserve" class="s2075883DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-26-82"><span class="s2075883DefaultParagraphFont">58-26-82</span></a><span class="s2075883DefaultParagraphFont">, the reserves which are held under any plan must:</span></p><p dir="ltr" class="s2075883Normal-000001"><span class="s2075883DefaultParagraphFont">(1)    Be appropriate in relation to the benefits and the pattern of premiums for that plan; and</span></p><p dir="ltr" class="s2075883Normal-000001"><span xml:space="preserve" class="s2075883DefaultParagraphFont">(2)    Be computed by a method which is consistent with the principles of this Standard Valuation Law, as determined by rules promulgated by the director pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-26"><span class="s2075883DefaultParagraphFont">1-26</span></a><span class="s2075883DefaultParagraphFont">.</span></p><p dir="ltr" class="s2075883Normal"><span xml:space="preserve" class="s2075883000002"> </span></p><p dir="ltr" class="s2075883Normal"><span class="s2075883SCL">Source:</span><span xml:space="preserve" class="s2075883SCL-000003"> SL 1995, ch 284, § 39.</span></p></div></body></html>