South Dakota Statutes
§ 58-15-44 — Dating back of application for insurance to reduce premium prohibited--Contract not invalidated.
No insurer may knowingly deliver or issue for delivery in this state any life insurance policy that purports to be issued or to take effect as of a date more than six months before the application therefor was made, if thereby the premium on the policy is reduced below the premium that would be payable thereon as determined by the insuring age of the insured at the time when such application was made. No insurance producer or other representative of an insurer may in this state prepare, submit, or accept any application for life insurance that bears a date earlier than the date when the application was made by the insured or applicant, if thereby the premium on the contract is reduced as above stated. Nothing contained in this section invalidates any contract made in violation of this sect
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South Dakota § 58-15-44 (Dating back of application for insurance to reduce premium prohibited--Contract not invalidated.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1966, ch 111, ch 23, § 35; SL 2001, ch 286, § 109; SL 2021, ch 210, § 8.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.