South Dakota Laws > Title 58 > Chapter 16 > § 58-16-23 South Dakota Codified Laws 58-16-23. Issuance of group life policy to creditor–Purpose Current as of: 2023 | Check for updates | Other versions A policy of group life insurance may be issued to a creditor, who shall be deemed the policyholder, to insure debtors of the creditor, subject to the requirements of §§ 58-16-24 to 58-16-29, inclusive. Source: SL 1966, ch 111, ch 24, § 1 (2). Previous sectionNext section Chapter 16 Contents