South Dakota Codified Laws 58-19-6. Maximum amount of credit life insurance
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The initial amount of credit life insurance shall not exceed the total amount repayable under the contract of indebtedness and, where an indebtedness is repayable in substantially equal installments, the amount of insurance shall at no time exceed the scheduled or actual amount of unpaid indebtedness, whichever is greater.
Terms Used In South Dakota Codified Laws 58-19-6
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1966, ch 111, ch 27, § 4 (1).