South Dakota § 58-16-25 Number of insureds required for group coverage of debtors--Evidence of insurability--Age exclusions.

South Dakota Statutes

§ 58-16-25 — Number of insureds required for group coverage of debtors--Evidence of insurability--Age exclusions.

South Dakota § 58-16-25

Title 58INSURANCE

Ch. 58-13GROUP LIFE INSURANCE POLICIES

This text of South Dakota § 58-16-25 (Number of insureds required for group coverage of debtors--Evidence of insurability--Age exclusions.) 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 § 58-16-25 (2026).

Text

A policy may be issued under § 58-16-23 only if the group of eligible debtors is then receiving new entrants at the rate of at least one hundred persons yearly, or may reasonably be expected to receive at least one hundred new entrants during the first policy year, and only if the policy reserves to the insurer the right to require evidence of individual insurability if less than seventy - five percent of the new entrants become insured. The policy may exclude from the classes eligible for insurance classes of debtors determined by age.

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A policy may be issued under § 58-16-23 only if the group of eligible debtors is then receiving new entrants at the rate of at least one hundred persons yearly, or may reasonably be expected to receive at least one hundred new entrants during the first policy year, and only if the policy reserves to the insurer the right to require evidence of individual insurability if less than seventy - five percent of the new entrants become insured. The policy may exclude from the classes eligible for insurance classes of debtors determined by age.