58-16-23. Issuance of group life policy to creditor--Purpose.A policy of group life insurance may be issued to a creditor, who shall be deemed the policyholder, to insure debtors of the creditor, subject to the requirements of §§58-16-24 to 58-16-29, inclusive. Source: SL 1966, ch 111, ch 24, §1 (2).
South Dakota Legal Code