South Dakota § 58-26-81 - Determining minimum reserve when gross premium charged is less than the valuation net premium.
Full text of South Dakota South Dakota Codified Laws § 58-26-81 — Determining minimum reserve when gross premium charged is less than the valuation net premium., with citation guidance and answers to common questions.
§ 58-26-81. Determining minimum reserve when gross premium charged is less than the valuation net premium.
If in any contract year the gross premium charged by any company on any policy or contract is less than the valuation net premium for the policy or contract calculated by the method used in calculating the reserve thereon but using the minimum valuation standards of mortality and rate of interest, the minimum reserve required for the policy or contract is the greater of either the reserve calculated according to the mortality table, rate of interest, and method actually used for the policy or contract, or the reserve calculated by the method actually used for the policy or contract but using the minimum valuation standards of mortality and rate of interest and replacing the valuation net premium by the actual gross premium in each contract year for which the valuation net premium exceeds the actual gross premium. The minimum valuation standards of mortality and rate of interest referred to in this section and § 58-26-82 are those standards stated in §§ 58-26-56 to 58-26-63, inclusive, and §§ 58-26-71 to 58-26-74, inclusive.
Source: SL 1995, ch 284, § 37; SL 2015, ch 254, § 22.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 58-26-81
What does South Dakota Codified Laws § 58-26-81 cover?
Section 58-26-81 ("Determining minimum reserve when gross premium charged is less than the valuation net premium.") 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 § 58-26-81?
A common citation format is "South Dakota Codified Laws § 58-26-81" (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 § 58-26-81 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.