Default designation of new investment selection upon termination of participant's contract.

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  2. South Dakota Codified Laws
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  5. Default designation of new investment selection upon termination of participant's contract.

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3-13-51.3. Default designation of new investment selection upon termination of participant's contract.

If a contract with a vendor terminates and a participant fails to notify the third-party administrator of the participant's new investment selection before the contract terminates, the third-party administrator shall transfer that participant's account to the investment alternative designated by the state investment officer.

Source: SL 2000, ch 27, §5.


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