{"data":{"id":"us-sd/sdcl-58-33a-16.5","jurisdiction":"us-sd","citation":"SDCL § 58-33A-16.5","heading":"Recommendation--Sale of annuity--Disclosure to consumer.","body":"Prior to or at the time of the recommendation or sale of an annuity, the producer shall prominently disclose to the consumer on a form substantially similar to the form prescribed by the director and available on the division’s website:\n(1) A description of the scope and terms of the relationship with the consumer and the role of the producer in the transaction;\n(2) An affirmative statement on whether the producer is licensed and authorized to sell the following products:\n(a) Fixed annuities;\n(b) Fixed indexed annuities;\n(c) Variable annuities;\n(d) Life insurance;\n(e) Mutual funds;\n(f) Stocks and bonds; and\n(g) Certificates of deposit;\n(3) An affirmative statement describing the insurers the producer is authorized, contracted, appointed, or otherwise able to sell insurance products for using the following descriptions:\n(a) From one insurer;\n(b) From two or more insurers; or\n(c) From two or more insurers although primarily contracted with one insurer;\n(4) A description of the sources and types of cash compensation and non-cash compensation to be received by the producer, including whether the producer is to be compensated for the sale of a recommended annuity by commission as part of premium or other remuneration received from the insurer, intermediary, or other producer or by fee as a result of a contract for advice or consulting services; and\n(5) A notice of the consumer’s right to request additional information regarding cash compensation described in § 58-33A-16.6.","path":["TITLE 58. INSURANCE","CHAPTER 58-33A. STANDARDS FOR ADVERTISEMENT, SOLICITATION, AND SALE OF LIFE AND HEALTH INSURANCE"],"source_url":"https://sdlegislature.gov/Statutes/58-33A-16.5","current_through":"2026-08-31","vintage":"","retrieved_at":"2026-09-03T15:18:57Z","sha256":"59b9bc996e5de5f27edf0cadb82368471ee1146e851df04638ef1a7c359f35b9","source_id":"us-sd","stale":true,"prev":"us-sd/sdcl-58-33a-16.4","next":"us-sd/sdcl-58-33a-16.6"},"notice":"GroundRules: Original legal text. Not legal advice."}