South Dakota § 58-28-20 - Restrictions on transfers between accounts.
Full text of South Dakota South Dakota Codified Laws § 58-28-20 — Restrictions on transfers between accounts., with citation guidance and answers to common questions.
§ 58-28-20. Restrictions on transfers between accounts.
No sale, exchange, or other transfer of assets may be made by an insurer between any of its separate accounts or between any other investment account and one or more of its separate accounts unless, in case of a transfer into a separate account, such transfer is made solely to establish the account or to support the operation of the contracts with respect to the separate account to which the transfer is made, and unless such transfer, whether into or from a separate account, is made:
(1) By a transfer of cash; or
(2) By a transfer of securities having a readily determinable market value, provided that such transfer of securities is approved by the director.
The director may approve other transfers among such accounts if, in his opinion, such transfers would not be inequitable.
Source: SL 1966, ch 111, ch 6, § 36 (8); § 36 (6) as amended by SL 1967, ch 131; SDCL, § 58-28-6; SL 1971, ch 266, § 1 (6).
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-28-20
What does South Dakota Codified Laws § 58-28-20 cover?
Section 58-28-20 ("Restrictions on transfers between accounts.") 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 § 58-28-20?
A common citation format is "South Dakota Codified Laws § 58-28-20" (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 § 58-28-20 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.