South Dakota § 58-26-56 - Minimum standard for valuation of policies and contracts.
Full text of South Dakota South Dakota Codified Laws § 58-26-56 — Minimum standard for valuation of policies and contracts., with citation guidance and answers to common questions.
§ 58-26-56. Minimum standard for valuation of policies and contracts.
Except as provided in §§ 58-26-64 to 58-26-74, inclusive, and § 58-26-84, the minimum standard for the valuation of policies and contracts issued prior to July 1, 1995, shall be that provided by the laws in effect immediately prior to July 1, 1995. Except as otherwise provided in §§ 58-26-64 to 58-26-74, inclusive, and § 58-26-84, the minimum standard for the valuation of all policies and contracts issued on or after July 1, 1995, shall be the commissioners' reserve valuation methods defined in §§ 58-26-75, 58-26-76, 58-26-81, 58-26-82, and 58-26-84, three and one-half percent interest, or in the case of life insurance policies and contracts, other than annuity and pure endowment contracts, issued on or after July 1, 1973, four percent interest for such policies issued prior to July 1, 1978, five and one-half percent interest for single premium life insurance policies and four and one-half percent interest for all other policies issued on and after July 1, 1978, and the tables provided for in §§ 58-26-57 to 58-26-63, inclusive.
Source: SL 1995, ch 284, § 12; SL 2015, ch 254, § 6.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-26-56
What does South Dakota Codified Laws § 58-26-56 cover?
Section 58-26-56 ("Minimum standard for valuation of policies and contracts.") 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 § 58-26-56?
A common citation format is "South Dakota Codified Laws § 58-26-56" (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 § 58-26-56 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.