South Dakota Statutes
§ 58-15-62 — Grace period in annuity or endowment contract.
South Dakota § 58-15-62
This text of South Dakota § 58-15-62 (Grace period in annuity or endowment contract.) 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 § 58-15-62 (2026).
Text
In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that there shall be a period of grace of not less than thirty days, within which any stipulated payment to the insurer falling due after the first payment may be made, during which period of grace the contract shall continue in full force; but in case a claim arises under the contract on account of death prior to expiration of the period of grace before the overdue payment to the insurer or the deferred payments of the current contract year, if any, are made, the amount of such payments may be deducted from any amount payable under the contract in settlement.
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Legislative History
SL 1966, ch 111, ch 23, § 19.
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Repealed by SL 2012, ch 252, § 30.§ 58-1-2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.Cite This Page — Counsel Stack
Bluebook (online)
South Dakota § 58-15-62, Counsel Stack Legal Research, https://law.counselstack.com/statute/sd/58-15-62.