South Dakota Codified Laws 58-16-45. Computation of interest
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Interest payable pursuant to § 58-16-44 shall be computed from the date of death of the insured until the date of payment and shall be at the rate of four percent per annum or not less than the current rate of interest on death proceeds left on deposit with the insurer under an interest settlement option, whichever rate is greater.
Terms Used In South Dakota Codified Laws 58-16-45
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
Source: SL 1987, ch 375, § 2.