<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 58-33-126 - Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2076761Normal { 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.s2076761SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2076761CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2076761Normal-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.s2076761DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2076761Normal-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.s2076761000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2076761SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2076761SCL-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="s2076761Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-33-126"><span class="s2076761SENU">58-33-126</span></a><span xml:space="preserve" class="s2076761SENU">. </span><span class="s2076761CL">Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair.</span></p><p dir="ltr" class="s2076761Normal-000000"><span class="s2076761DefaultParagraphFont">The following acts or practices by an insurer or insurance producer are declared to be false, misleading, deceptive, or unfair:</span></p><p dir="ltr" class="s2076761Normal-000001"><span class="s2076761DefaultParagraphFont">(1)    Using or describing the credited interest rate on a life insurance policy in a manner that implies that the credited interest rate is a net return on premium paid; or</span></p><p dir="ltr" class="s2076761Normal-000001"><span class="s2076761DefaultParagraphFont">(2)    Excluding individually issued annuities, misrepresenting the mortality costs of a life insurance product, including, stating, or implying that the product costs nothing or is free.</span></p><p dir="ltr" class="s2076761Normal"><span xml:space="preserve" class="s2076761000002"> </span></p><p dir="ltr" class="s2076761Normal"><span class="s2076761SCL">Source:</span><span xml:space="preserve" class="s2076761SCL-000003"> SL 2008, ch 272, § 10.</span></p></div></body></html>