20:07:18:06Financial information.
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
Before purchasing a cash value life insurance policy, the board of directors shall evaluate the financial condition and rating, if any, of the insurance company based on current financial information. This evaluation and all subsequent evaluations shall be recorded in the minutes of the board of directors. The board shall continue to evaluate the company's financial condition and rating at least annually.
Source: 20 SDR 33, effective September 5, 1993; 21 SDR 194, effective May 18, 1995.