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. Source: SL 2022, ch 186, §15, eff. Jan. 1, 2023.
South Dakota Legal Code