S.D. Codified Laws § 58-15-23

Current through the 2024 Legislative Session

Section 58-15-23 - Participating policies-Annual dividends, ascertainment, and apportionment

There shall be a provision in participating policies that, beginning not later than the end of the third policy year, the insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue on the policy anniversary or other dividend date specified in the policy provided the policy is in force and all premiums to that date are paid.

SDCL 58-15-23

SL 1966, ch 111, ch 23, § 8 (1).