SDCL § 58-33A-19.2: Producer obligations--Documentation--Time of recommendation or sale.

A producer shall, at the time of the recommendation or sale:

(1) Make a written record of any recommendation and the basis for the recommendation subject to the obligations required in §§ 58-33A-13 to 58-33A-27, inclusive;

(2) Obtain a consumer signed statement on a form substantially similar to the form prescribed by the director and available on the division’s website documenting:

(a) A customer’s refusal to provide the consumer profile information, if any;

(b) A customer’s understanding of the ramifications of not providing his or her consumer profile information or providing insufficient consumer profile information; and

(3) Obtain a consumer signed statement acknowledging the annuity transaction is not recommended if a customer decides to enter into an annuity transaction that is not based on the producer’s recommendation on a form substantially similar to a form prescribed by the director.