S.D. Codified Laws § 58-37A-16

Current through the 2024 Legislative Session

Section 58-37A-16 - Contractual benefits allowed

A society may provide the following contractual benefits in any form:

(1) Death benefits;

(2) Endowment benefits;

(3) Annuity benefits;

(4) Temporary or permanent disability benefits;

(5) Hospital, medical, or nursing benefits;

(6) Monument or tombstone benefits to the memory of deceased members; and

(7) Any other benefits as authorized for life and health insurers and which are not inconsistent with this chapter.

A society shall specify in its rules those persons who may be issued, or covered by, the contractual benefits consistent with providing benefits to members and their dependents. A society may provide benefits on the lives of children under the minimum age for adult membership upon application of an adult.

SDCL 58-37A-16

SL 1990, ch 410, § 16.