58-33A-4. Certain material and communication not deemed to be advertisement.
For the purposes of this chapter, the term, advertisement, does not include:
(1)Any material to be used solely for the training and education of an insurer's employees, representatives, or insurance producers;
(2)Any material used in-house by insurers;
(3)Any communications within an insurer's own organization not intended for dissemination to the public;
(4)Any individual communications of a personal nature with current policyholders other than material urging such policyholders to increase or expand coverages;
(5)Any correspondence between a prospective group or blanket policyholder and an insurer in the course of negotiating a group or blanket contract;
(6)Any court-approved material ordered by a court to be disseminated to policyholders; or
(7)Any general announcement from a group or blanket policyholder to eligible individuals on an employment or membership list that a contract or program has been written or arranged if the announcement clearly indicates that it is preliminary to the issuance of a booklet and the announcement does not describe the benefits under the contract or program or describe advantages as to the purchase of the contract or program.
Source: SL 1999, ch 240, §4; SL 2000, ch 251, §5; SL 2001, ch 286, §213.
Structure South Dakota Codified Laws
Chapter 33A - Standards For Advertisement, Solicitation, And Sale Of Life And Health Insurance
Section 58-33A-1 - Applicability of chapter.
Section 58-33A-2 - Purpose of chapter.
Section 58-33A-3 - "Advertisement" defined.
Section 58-33A-4 - Certain material and communication not deemed to be advertisement.
Section 58-33A-7 - Director authorized to promulgate rules--Scope of rules.
Section 58-33A-8 - Required disclosures to be clear and conspicuous.
Section 58-33A-8.1 - Disclosure of usual, customary, and reasonable limitation provision required.
Section 58-33A-12 - Director's prior approval may be required--Other remedies not precluded.
Section 58-33A-13 - Definition of terms.
Section 58-33A-14 - Recommendations to purchase or exchange annuities subject to requirements.
Section 58-33A-15 - Exemptions from requirements.
Section 58-33A-16 - Annuity best interest standard.
Section 58-33A-16.1 - Recommendation--Producer responsibilities.
Section 58-33A-16.2 - Recommendation--Producer responsibilities--Applicability and intent.
Section 58-33A-16.3 - Considerations for annuity replacement or exchange.
Section 58-33A-16.4 - Recommendation--Sale of annuity--Informed consumer.
Section 58-33A-16.5 - Recommendation--Sale of annuity--Disclosure to consumer.
Section 58-33A-16.6 - Additional disclosure upon request.
Section 58-33A-16.7 - Disclosure of producer conflicts of interest required.
Section 58-33A-18 - Conditions resulting in no obligation to consumer.
Section 58-33A-19 - Reasonableness under circumstances known to insurer.
Section 58-33A-19.2 - Producer obligations--Documentation--Time of recommendation or sale.
Section 58-33A-19.3 - Issuance by insurer to be reasonable and address consumer needs.
Section 58-33A-20 - Insurer's system for supervising recommendations.
Section 58-33A-20.2 - Prohibited conduct by insurance producer.
Section 58-33A-25 - Compliance with comparable standards by financial professional.
Section 58-33A-25.2 - Annuity training course providers--Training requirements of other states.
Section 58-33A-25.3 - Insurer to verify producer has completed annuity training course.
Section 58-33A-25.4 - Authorized insurance business--Other licenses.
Section 58-33A-25.5 - Definition of terms--Compliance with Conduct Rules.
Section 58-33A-26 - Corrective action for violations.