South Dakota Codified Laws 58-16-46. Interest not required where beneficiary elects to receive other than lump sum payment
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The provisions of § 58-16-44 do not require the payment of interest in any case in which the beneficiary elects in writing delivered to the insurer to receive the proceeds of or payments under a life insurance policy by any means other than a lump sum payment.
Terms Used In South Dakota Codified Laws 58-16-46
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
Source: SL 1987, ch 375, § 3.