South Dakota Codified Laws 58-15-22. Reinstatement provisions required in policy
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There shall be a provision that unless:
(1) The policy has been surrendered for its cash surrender value, or
Terms Used In South Dakota Codified Laws 58-15-22
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2
(2) Its cash surrender value has been exhausted, or
(3) The paid–up term insurance, if any, has expired, the policy will be reinstated at any time within three years, or two years in the case of industrial life insurance policies, from the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate as provided in § 58-15-15.6.
Source: SL 1966, ch 111, ch 23, § 12; SL 1982, ch 358, § 10.