58-15-25. Participating industrial life insurance policies--Annual participation of policy in divisible surplus.In participating industrial life insurance policies, in lieu of the provision required in §§58-15-23 and 58-15-24, there shall be a provision that, beginning not later than the end of the fifth policy year, the policy shall participate annually in the divisible surplus, if any, in the manner set forth in the policy. Source: SL 1966, ch 111, ch 23, §8 (2).
South Dakota Legal Code