An insurer or producer may conduct raffles or drawings to the extent permitted by state law as long as there is no financial cost to entrants to participate, the drawing or raffle does not obligate participants to purchase insurance, the prizes are not valued in excess of a reasonable amount as determined by the director, and the drawing or raffle is open to the public. The raffle or drawing must be offered in a manner that is not unfairly discriminatory. The consumer may not be required to purchase, continue to purchase, or renew a policy in exchange for the gift, item, or service.
S.D. Codified Laws § 58-33-138
Value-added product or service--Permitted raffles or drawings described
Known as the Unauthorized Insurers False Advertising Process Act
The act spans §§ 58–58 (145 sections).
Source: SL 2023, ch 167, § 3.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.