Pursuant to 42 U.S.C. § 1396p(e), as amended to August 1, 2006, the department becomes a preferred remainder beneficiary of any interest the individual or the individual's spouse has in an annuity or similar financial instrument purchased and owned after February 7, 2006.

Source: 33 SDR 44, effective August 31, 2006.

General Authority: SDCL 28-6-1.

Law Implemented: SDCL 28-6-1.