S.D. High Court Affirms Judgment, Reverses In Part Cost Award In STOLI Dispute

( July 7, 2026, 11:29 AM EDT) -- PIERRE, S.D. — The South Dakota Supreme Court affirmed a lower court’s grant of summary judgment for Viva Capital Trust but reversed in part the cost award to Viva in a dispute with an estate claiming that a $10 million life insurance policy, initially owned by the decedent’s trust, was an illegal stranger-originated life insurance (STOLI) policy, finding in part that a later transfer of the policy was not unlawful and that when the policy was issued, the benefits were payable to an individual with an insurable interest in the insured’s life....

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