<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 58-33-16 - Credit life insurance permitted as inducement for purchases. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2076650Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2076650SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2076650CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2076650Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2076650DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2076650000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2076650SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2076650SCL-000002 { 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="s2076650Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-33-16"><span class="s2076650SENU">58-33-16</span></a><span xml:space="preserve" class="s2076650SENU">. </span><span class="s2076650CL">Credit life insurance permitted as inducement for purchases.</span></p><p dir="ltr" class="s2076650Normal-000000"><span xml:space="preserve" class="s2076650DefaultParagraphFont">Section </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-33-15"><span class="s2076650DefaultParagraphFont">58-33-15</span></a><span xml:space="preserve" class="s2076650DefaultParagraphFont"> shall not apply to insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction, or insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy.</span></p><p dir="ltr" class="s2076650Normal"><span xml:space="preserve" class="s2076650000001"> </span></p><p dir="ltr" class="s2076650Normal"><span class="s2076650SCL">Source:</span><span xml:space="preserve" class="s2076650SCL-000002"> SL 1966, ch 111, ch 13, § 14 (2).</span></p></div></body></html>