58-10-5. Insurance benefits recoverable from beneficiary without insurable interest.
If the beneficiary, assignee, or other payee under any contract made in violation of §58-10-3 receives from the insurer any benefits thereunder accruing upon the death, disablement, or injury of the individual insured, the individual insured or his personal representative, as the case may be, may maintain an action to recover such benefits from the person so receiving them.
Source: SL 1966, ch 111, ch 22, §4 (2); SL 1995, ch 167, §188.
Structure South Dakota Codified Laws
Chapter 10 - Insurable Interest
Section 58-10-1 - Application to all insurance and annuity contracts--Exceptions.
Section 58-10-2 - Policy defined.
Section 58-10-4 - Insurable interest in personal insurance defined.
Section 58-10-5 - Insurance benefits recoverable from beneficiary without insurable interest.
Section 58-10-6 - Consent of insured required for life or health insurance on an individual.
Section 58-10-7 - Insurance of property--Insurable interest required.
Section 58-10-8 - Insurable interest in property defined.
Section 58-10-9 - Measure of insurable interest in property.
Section 58-10-11 - Change of property interest on death of insured.
Section 58-10-12 - Transfer of property interest between joint insureds.
Section 58-10-13 - Trust defined.
Section 58-10-14 - Business trust defined.
Section 58-10-15 - Trust to be governed by South Dakota law.
Section 58-10-16 - Retroactive effect of statutory provisions regarding trusts.