Section 58-28-17 - Ownership by insurer--Not a trustee. - South-dakota Statutes

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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.

Source: 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).

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-28 > Statute-58-28-17

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.

Source: 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).

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-28 > Statute-58-28-17

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.

Source: 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).