<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-15-15.4 - Insurance policy loan--Definition of terms. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074750Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2074750SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074750CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074750Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2074750DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2074750Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2074750000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074750SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074750SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2074750Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-15.4"><span class="s2074750SENU">58-15-15.4</span></a><span xml:space="preserve" class="s2074750SENU">. </span><span class="s2074750CL">Insurance policy loan--Definition of terms.</span></p><p dir="ltr" class="s2074750Normal-000000"><span xml:space="preserve" class="s2074750DefaultParagraphFont">For purposes of §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-15.5"><span class="s2074750DefaultParagraphFont">58-15-15.5</span></a><span xml:space="preserve" class="s2074750DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-15.12"><span class="s2074750DefaultParagraphFont">58-15-15.12</span></a><span class="s2074750DefaultParagraphFont">, inclusive:</span></p><p dir="ltr" class="s2074750Normal-000001"><span xml:space="preserve" class="s2074750DefaultParagraphFont">(1)    The rate of interest on policy loans permitted under §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-15.5"><span class="s2074750DefaultParagraphFont">58-15-15.5</span></a><span xml:space="preserve" class="s2074750DefaultParagraphFont"> to </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-15-15.12"><span class="s2074750DefaultParagraphFont">58-15-15.12</span></a><span class="s2074750DefaultParagraphFont">, inclusive, includes the interest rate charged on reinstatement of policy loans for the period during and after any lapse of a policy;</span></p><p dir="ltr" class="s2074750Normal-000001"><span class="s2074750DefaultParagraphFont">(2)    The term "policy loan" includes any premium loan made under a policy to pay one or more premiums that were not paid to the life insurer as they fell due;</span></p><p dir="ltr" class="s2074750Normal-000001"><span class="s2074750DefaultParagraphFont">(3)    The term "policyholder" includes the owner of the policy or the person designated to pay premiums as shown on the records of the life insurer; and</span></p><p dir="ltr" class="s2074750Normal-000001"><span class="s2074750DefaultParagraphFont">(4)    The term "policy" includes certificates issued by a fraternal benefit society and annuity contracts which provide for policy loans.</span></p><p dir="ltr" class="s2074750Normal"><span xml:space="preserve" class="s2074750000002"> </span></p><p dir="ltr" class="s2074750Normal"><span class="s2074750SCL">Source:</span><span xml:space="preserve" class="s2074750SCL-000003"> SL 1982, ch 358, § 1.</span></p></div></body></html>