Any policy issued on or after July 1, 1982, shall provide for policy loan interest rates through a provision permitting a maximum interest rate of not more than eight percent per annum or a provision permitting an adjustable maximum interest rate established from time to time by the life insurer, as permitted by law.
S.D. Codified Laws § 58-15-15.6
Insurance policy loan--Permitted interest rates
Source: SL 1982, ch 358, § 3.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.