South Dakota § 58-15-41 - Nonforfeiture benefit provision inapplicable to reinsurance, group insurance, annuity contracts, or term insurance.
Full text of South Dakota South Dakota Codified Laws § 58-15-41 — Nonforfeiture benefit provision inapplicable to reinsurance, group insurance, annuity contracts, or term insurance., with citation guidance and answers to common questions.
§ 58-15-41. Nonforfeiture benefit provision inapplicable to reinsurance, group insurance, annuity contracts, or term insurance.
The provisions of §§ 58-15-31 to 58-15-43, inclusive, do not apply to any reinsurance; group insurance; pure endowment; annuity or reversionary annuity contract; term policy of uniform amount, which provides no guaranteed nonforfeiture or endowment benefits, or renewal thereof, of twenty years or less expiring before age seventy-one, for which uniform premiums are payable during the entire term of the policy; term policy of decreasing amount, which provides no guaranteed nonforfeiture or endowment benefits, on which each adjusted premium, calculated as specified in §§ 58-15-35 to 58-15-38, inclusive, and §§ 58-15-43.1 to 58-15-43.11, inclusive, is less than the adjusted premium so calculated, on a term policy of uniform amount, or renewal thereof, which provides no guaranteed nonforfeiture or endowment benefits, issued at the same age and for the same initial amount of insurance and for a term of twenty years or less expiring before age seventy-one, for which uniform premiums are payable during the entire term of the policy; policy, which provides no guaranteed nonforfeiture or endowment benefits, for which no cash surrender value, if any, or present value of any paid-up nonforfeiture benefit, at the beginning of any policy year, calculated as specified in §§ 58-15-33 to 58-15-38, inclusive, and §§ 58-15-43.1 to 58-15-43.11, inclusive, exceeds two and one- half percent of the amount of insurance at the beginning of the same policy year; nor policy which is delivered outside this state through an insurance producer or other representative of the company issuing the policy. For purposes of determining the applicability of §§ 58-15-31 to 58-15-43, inclusive, the age at expiry for a joint term life insurance policy is the age at expiry of the oldest life.
Source: SL 1966, ch 111, ch 23, § 28 (7); SL 1982, ch 357, § 19; SL 2001, ch 286, § 108.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-15-41
What does South Dakota Codified Laws § 58-15-41 cover?
Section 58-15-41 ("Nonforfeiture benefit provision inapplicable to reinsurance, group insurance, annuity contracts, or term insurance.") 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 § 58-15-41?
A common citation format is "South Dakota Codified Laws § 58-15-41" (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 § 58-15-41 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.