58-19-9 Term of insurance--Commencement.
Term of insurance--Commencement.
The term of any credit life insurance or credit
health insurance shall, subject to acceptance by the insurer, commence on the date when the debtor
becomes obligated to the creditor, except that, where a group policy provides coverage with respect
to existing obligations, the insurance on a debtor with respect to such indebtedness shall commence
on the effective date of the policy.
Source: SL 1966, ch 111, ch 27, § 5.