Section 3-13A-12 - Transfer of funds from terminated investment selection. - South Dakota Statutes

3-13A-12. Transfer of funds from terminated investment selection. If a contract between the state investment officer and a vendor is terminated and a participant fails to notify the administrator or third-party administrator of the participant's new investment selection before the contract terminates, the administrator or third-party administrator shall transfer that participant's account to the investment alternative designated by the state investment officer.

Source: SL 2004, ch 43, § 11; SDCL, § 3-12-175; SL 2005, ch 28, § 1.