South Dakota § 58-15-15.7 - Insurance policy loan--Allowable rate under adjustable maximum interest rate.
Full text of South Dakota South Dakota Codified Laws § 58-15-15.7 — Insurance policy loan--Allowable rate under adjustable maximum interest rate., with citation guidance and answers to common questions.
§ 58-15-15.7. Insurance policy loan--Allowable rate under adjustable maximum interest rate.
The rate of interest charged on a policy loan made under an adjustable maximum interest rate may not exceed the higher of the "published monthly average" for the calendar month ending two months before the date on which the rate is determined or the rate used to compute the cash surrender values under the policy during the applicable period plus one percent per year. If the maximum rate of interest is determined pursuant to § 58-15-15.6 as an adjustable maximum rate, the policy shall contain a provision setting forth the frequency at which the rate is to be determined for that policy.
Source: SL 1982, ch 358, § 4.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-15-15.7
What does South Dakota Codified Laws § 58-15-15.7 cover?
Section 58-15-15.7 ("Insurance policy loan--Allowable rate under adjustable maximum interest rate.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 58-15-15.7?
A common citation format is "South Dakota Codified Laws § 58-15-15.7" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 58-15-15.7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.