This bill updates South Dakota's insurance rules to clarify what information insurance producers must gather before recommending annuities to customers, including details about their age, income, debts, existing investments, and risk tolerance. The changes establish a detailed definition of "consumer profile information" that producers must consider to ensure their annuity recommendations fit each customer's actual financial situation and goals.
AI-generated summary
This bill does not directly amend codified state law.
Signed by the Governor H.J. 370
Delivered to the Governor H.J. 312
Signed by the President S.J. 278
Signed by the Speaker H.J. 287
Senate Do Pass Amended Passed, YEAS 33, NAYS 2. S.J. 230
Commerce and Energy Do Pass Passed, YEAS 9, NAYS 0. S.J. 16
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 163
House of Representatives Do Pass Amended Passed, YEAS 62, NAYS 6. H.J. 181
House of Representatives Remove from Consent Calendar H.J. 171
Commerce and Energy Certified uncontested, placed on consent
Commerce and Energy Do Pass Amended Passed, YEAS 12, NAYS 0.
Commerce and Energy Motion to amend
Commerce and Energy Scheduled for hearing
First read in House and referred to House Commerce and Energy H.J. 60
Rocky Blare
Prime sponsor · Rep.
R
Ryan Maher
Prime sponsor · Sen.
R
Cosponsors
Do Pass Amended
Commerce and Energy — Do Pass
Do Pass Amended
Commerce and Energy — Do Pass Amended