A policy of group life insurance may be issued to a creditor, who shall be deemed the policyholder, to insure debtors of the creditor, subject to the requirements of §§ 58-16-24 to 58-16-29, inclusive.
S.D. Codified Laws § 58-16-23
Issuance of group life policy to creditor--Purpose
Source: SL 1966, ch 111, ch 24, § 1 (2).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.