South Dakota § 58-10-17 - Creation of entity to purchase, hold, or administer insurance contract on life of individual settlor.
Full text of South Dakota South Dakota Codified Laws § 58-10-17 — Creation of entity to purchase, hold, or administer insurance contract on life of individual settlor., with citation guidance and answers to common questions.
§ 58-10-17. Creation of entity to purchase, hold, or administer insurance contract on life of individual settlor.
A person who has an insurable interest in the life of an individual settlor pursuant to subdivisions 58-10-4(1) to (6), may create an entity solely for the purpose of purchasing, holding, or administering an insurance contract on the life of the individual settlor. Neither an insurance policy issued to the entity nor any ownership interest in the entity itself may be sold or voluntarily transferred to any entity other than one with an insurable interest in the life of the same individual settlor pursuant to subdivisions 58-10-4(1) to (6). For purposes of this section, entity, has the same meaning as the definition of, person, in subdivision 58-1-2(14).
Source: SL 2015, ch 247, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-10-17
What does South Dakota Codified Laws § 58-10-17 cover?
Section 58-10-17 ("Creation of entity to purchase, hold, or administer insurance contract on life of individual settlor.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-10-17?
A common citation format is "South Dakota Codified Laws § 58-10-17" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-10-17 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.