58-16-23. Issuance of group life policy to creditor--Purpose.
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/sd/title-58/chapter-58-16/58-16-23·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A policy of group life insurance may be issued to a creditor, who shall be deemed the policyholder, to insure debtors of the creditor, subject to the requirements of §§ 58-16-24 to 58-16-29 , inclusive.