58-28-19. Voting and other rights accorded to beneficiaries of accounts.
To the extent such insurer deems it necessary to comply with any applicable federal or state laws, such insurer, with respect to any separate account, including without limitation any separate account which is a management investment company or a unit investment trust, may provide for persons having an interest therein appropriate voting and other rights and special procedures for the conduct of the business of such account, including without limitation special rights and procedures relating to investment policy, investment advisory services, selection of independent public accountants, and the selection of a committee, the members of which need not be otherwise affiliated with such insurer, to manage the business of such account.
Source: SL 1966, ch 111, ch 6, §36 as added by SL 1969, ch 131; SDCL Supp, §58-28-6.4; SL 1971, ch 266, §1 (7).
Structure South Dakota Codified Laws
Chapter 28 - Separate Life Insurance And Annuity Accounts
Section 58-28-14 - Approval required to maintain guaranteed benefits and funds in separate account.
Section 58-28-16 - Gains and losses from allocated assets credited or charged to separate account.
Section 58-28-17 - Ownership by insurer--Not a trustee.
Section 58-28-18 - Separate account not chargeable with liabilities from other business.
Section 58-28-19 - Voting and other rights accorded to beneficiaries of accounts.
Section 58-28-20 - Restrictions on transfers between accounts.
Section 58-28-21 - Valuation of assets allocated to account.
Section 58-28-22 - Valuation of portion of assets equal to reserve liability.
Section 58-28-23 - Contract to state procedure for determining amount of variable benefits.
Section 58-28-24 - Statement included as to variability of benefits.
Section 58-28-24.1 - Right of annuitant to cancel--Refund by insurer.
Section 58-28-25 - Approval by director required for variable contracts.
Section 58-28-26 - Factors considered by director in examining variable contracts.
Section 58-28-27 - Affiliated insurer measured by factors applicable to parent.
Section 58-28-28 - Grace, reinstatement, and nonforfeiture provisions required.
Section 58-28-29 - Actuarial standards for reserve liability on variable contracts.
Section 58-28-30 - General insurance law applicable--Exceptions.
Section 58-28-32 - Deferment of variable death benefits payment--Time period--State of emergency.