If an annuity contract so provides, the benefits, rights, privileges, or options accruing under such contract to a beneficiary or assignee shall not be transferable nor subject to commutation, and if the benefits are payable periodically or at stated times, the same exemptions and exceptions contained in §§ 58-12-6 to 58-12-9, inclusive, for the annuitant, shall apply with respect to such beneficiary or assignee.
S.D. Codified Laws § 58-12-10
Benefits, rights, privileges, or options nontransferable under annuity contract--Not subject to commutation--Exemption from execution
Source: SL 1966, ch 111, ch 22, § 32 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.