South Dakota § 58-37A-20 Basis for computing value of nonforfeiture benefits.

South Dakota Statutes

§ 58-37A-20 — Basis for computing value of nonforfeiture benefits.

South Dakota § 58-37A-20

Title 58INSURANCE

Ch. 58-37AFRATERNAL BENEFIT SOCIETIES

This text of South Dakota § 58-37A-20 (Basis for computing value of nonforfeiture benefits.) 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 § 58-37A-20 (2026).

Text

For certificates issued before one year after January 1, 1991, the value of every paid - up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted shall comply with the provisions of law applicable immediately before January 1, 1991. For certificates issued on or after one year from January 1, 1991, every paid - up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted may not be less than the corresponding amount based on the interest rate and mortality tables authorized by the laws of this state for the calculation of these benefits by life and health insurers issuing policies containing like benefits based upon such interest rate and mortality tables.

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For certificates issued before one year after January 1, 1991, the value of every paid - up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted shall comply with the provisions of law applicable immediately before January 1, 1991. For certificates issued on or after one year from January 1, 1991, every paid - up nonforfeiture benefit and the amount of any cash surrender value, loan, or other option granted may not be less than the corresponding amount based on the interest rate and mortality tables authorized by the laws of this state for the calculation of these benefits by life and health insurers issuing policies containing like benefits based upon such interest rate and mortality tables.