Section 58-15-42 - Notice by company of election to comply with nonforfeiture benefitprovisions--Filing with director. - South Dakota Statutes

58-15-42. Notice by company of election to comply with nonforfeiture benefit provisions--Filing with director. After July 1, 1966, any company could file with the director a written notice of its election to comply with the provisions of §§ 58-15-31 to 58-15-43, inclusive, after a specified date before January 1, 1967. After the filing of such notice, then upon such specified date, which shall be the operative date of said sections for such company, this section became operative with respect to the policies thereafter issued by such company. If a company made no such election, the operative date of said sections for such company shall be January 1, 1967.

Source: SL 1966, ch 111, ch 23, § 28 (8).