Every policy as defined by § 58-10-2 shall specify:

(1) The names of the parties to the contract;

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(2) The subject of the insurance;

(3) The risks insured against;

(4) The time when the insurance takes effect and the duration thereof;

(5) The premium; and

(6) The conditions pertaining to the insurance.

Source: SL 1966, ch 111, ch 22, § 16 (1).