The policy, at the insurer's option, may provide for automatic premium loan and may provide that such provisions do not become operative unless so elected by the party entitled to elect.
S.D. Codified Laws § 58-15-14
Automatic premium loan--Provision optional with insurer
Source: SL 1966, ch 111, ch 23, § 9.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.