<html> <head> <title>Rule 20:06:06:03.03 Joint credit life insurance rates.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:06:03.03"> <META NAME="Description" Content="Administrative Rules 20:06:06:03.03 Joint credit life insurance rates."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>20:06:06:03.03.&nbsp;&nbsp;Joint credit life insurance rates.</b> Where credit life insurance on a single indebtedness is provided on two lives, it shall mean insurance on spouse, family member or business partners only, where both are jointly and severally liable for the debt. The writing of insurance on more than two lives on the same indebtedness is prohibited. Decreasing or level joint credit life insurance shall be issued at a premium rate not to exceed the single life rate in §&nbsp;20:06:06:03 multiplied by a factor of 1.5. Joint life rates shall be filed and approved by the director.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 5 SDR 91, effective April 25, 1979; 12 SDR 151, 12 SDR 155, effective July 1, 1986.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-19-34">58-19-34.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-19-26">58-19-26.</A></p> </div> </body> </html>