The provisions of § 58-16-44 do not require the payment of interest in any case in which the beneficiary elects in writing delivered to the insurer to receive the proceeds of or payments under a life insurance policy by any means other than a lump sum payment.
S.D. Codified Laws § 58-16-46
Interest not required where beneficiary elects to receive other than lump sum payment
Source: SL 1987, ch 375, § 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.