58-19-40. Credit unemployment insurance not required by lender in consumer transactions.
Credit unemployment insurance may be offered but in no event may be required by the lender in consumer transactions. This shall be clearly and conspicuously disclosed to the consumer in the loan agreement.
Source: SL 1987, ch 380, ยง2.
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.