58-28-17. Ownership by insurer--Not a trustee.
41 words·~1 min read·
/sd/title-58/chapter-58-28/58-28-17·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.