For the purposes of § 58-27-32, “improved real property” shall constitute only farm lands used for tillage, crop or pasture, and real estate on which permanent improvements, or improvements under construction or in process of construction, suitable for residence, institutional, commercial, or industrial use, are situated.

Ask an insurance law question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Source: SL 1966, ch 111, ch 6, § 27.