58-16-47. Notice to beneficiary of interest.In any case in which interest on the proceeds of, or payments under, any policy of life insurance becomes payable pursuant to §58-16-44, the insurer shall notify the named beneficiary or beneficiaries at their last known address that interest will be paid on the proceeds of or payments under the policy. The notice shall specify the rate of interest to be paid. Source: SL 1987, ch 375, §4.
South Dakota Legal Code