This bill updates South Dakota's rules for deferred annuity contracts by revising how insurance companies calculate the minimum amount customers are guaranteed to receive if they surrender or withdraw from their annuity before payments begin. The changes affect how contract charges, premium taxes, and other deductions are factored into these guaranteed minimum amounts that protect consumers.
AI-generated summary
House of Representatives Withdrawn at the Request of the Prime Sponsor H.J. 166
House of Representatives Referred to House Commerce and Energy H.J. 59
Mark Willadsen
Prime sponsor · Rep.
R
Cosponsors