S.D. Codified Laws § 58-28-17

Current through the 2024 Legislative Session

Section 58-28-17 - Ownership by insurer-Not a trustee

Amounts allocated to a separate account in the exercise of the power granted by this chapter shall be owned by the insurer, and the insurer shall not be, nor hold itself out to be, a trustee with respect to such amounts.

SDCL 58-28-17

SL 1966, ch 111, ch 6, § 36 (6); § 36 (5) as amended by SL 1967, ch 131; SDCL, § 58-28-5; SL 1971, ch 266, § 1 (5).