58-19-4. Forms of credit life insurance and credit health insurance.
Credit life insurance and credit health insurance shall be issued only in the following forms:
(1)Individual policies of life insurance issued to debtors on the term plan;
(2)Individual policies of health insurance issued to debtors on a term plan or disability benefit provisions in individual policies of credit life insurance;
(3)Group policies of life insurance issued to creditors providing insurance upon the lives of debtors on the term plan;
(4)Group policies of health insurance issued to creditors on a term plan insuring debtors or disability benefit provisions in group credit life insurance policies to provide such coverage.
Source: SL 1966, ch 111, ch 27, ยง3.
Structure South Dakota Codified Laws
Chapter 19 - Credit Life, Health, Unemployment And Group Property Insurance
Section 58-19-1 - Purpose of chapter.
Section 58-19-2 - Definition of terms.
Section 58-19-4 - Forms of credit life insurance and credit health insurance.
Section 58-19-5 - Existing insurance--Choice of insurer.
Section 58-19-5.1 - Credit insurance not to be required for lease.
Section 58-19-6 - Maximum amount of credit life insurance.
Section 58-19-7 - Agricultural credit transaction commitments--Amount of insurance.
Section 58-19-8 - Indemnity payable by credit health insurance--Maximum amount.
Section 58-19-9 - Term of insurance--Commencement.
Section 58-19-10 - Commencement of insurance when evidence of insurability required.
Section 58-19-11 - Duration of term of insurance--Extension--Renewal or refinancing.
Section 58-19-12 - Revision of premium schedule--Filing.
Section 58-19-13 - Premium rate not to exceed scheduled rate--Misdemeanor.
Section 58-19-14 - Amount charged debtor not to exceed premium charged by insurer--Misdemeanor.
Section 58-19-15 - Termination of insurance prior to maturity date--Refund of amount paid by debtor.
Section 58-19-17 - Issuance of policies.
Section 58-19-18 - Individual policy or group certificate delivered to debtor.
Section 58-19-19 - Contents of individual policy or group certificate.
Section 58-19-20 - Time of delivery of individual policy or group certificate.
Section 58-19-21 - Application or notice delivered to debtor in lieu of policy or certificate.
Section 58-19-22 - Delivery to debtor of policy or certificate after acceptance of insurance.
Section 58-19-24 - Forms--Filing with director.
Section 58-19-26 - Disapproval of filed forms by director.
Section 58-19-28 - Withdrawal of approval of form--Notice and hearing.
Section 58-19-29 - Use of forms unlawful after withdrawal.
Section 58-19-30 - Judicial review of order or final determination of director as to forms.
Section 58-19-31 - Claims--Reporting to insurer--Settlement.
Section 58-19-33 - Manner of payment of claims.
Section 58-19-34 - Promulgation of rules by director--Purpose and scope.
Section 58-19-35 - Order for compliance issued by director--Notice and hearing.
Section 58-19-37 - Civil forfeiture for violations of orders of director.
Section 58-19-38 - Citation of chapter.
Section 58-19-39 - Credit unemployment insurance sold in connection with loans subject to chapter.
Section 58-19-40 - Credit unemployment insurance not required by lender in consumer transactions.
Section 58-19-41 - Coverage of credit unemployment insurance to begin first day of unemployment.
Section 58-19-44 - Disapproval by director if premium rates excessive or provisions unjust.
Section 58-19-46 - Review of insurance company's actuarial data--Reimbursement of cost.
Section 58-19-47 - Group property insurance authorized by credit card subject to chapter.
Section 58-19-50 - Disapproval of group property insurance by director--Grounds--Time limit.