South Dakota § 58-15-34 Paid

South Dakota Statutes

§ 58-15-34 — Paid

South Dakota § 58-15-34

Title 58INSURANCE

Ch. 58-13LIFE INSURANCE AND ANNUITIES

This text of South Dakota § 58-15-34 (Paid) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-15-34 (2026).

Text

Any paid - up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by § 58-15-33 in the absence of the condition that premiums shall have been paid for at least a specified period.

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Any paid - up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by § 58-15-33 in the absence of the condition that premiums shall have been paid for at least a specified period.