If a contract between the state investment officer and a vendor is terminated and a participant fails to notify the executive director or third-party administrator of the participant's new investment selection before the contract terminates, the executive director or third-party administrator shall transfer that participant's account to the investment alternative designated by the state investment officer.
S.D. Codified Laws § 3-13A-12
Transfer of funds from terminated investment selection
Source: SL 2004, ch 43, § 11; SDCL § 3-12-175; SL 2005, ch 28, § 1; SL 2016, ch 31, § 58.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.