58-16-46. Interest not required where beneficiary elects to receive other than lump sum payment.
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/sd/title-58/chapter-58-16/58-16-46·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The provisions of § 58-16-44 do not require the payment of interest in any case in which the beneficiary elects in writing delivered to the insurer to receive the proceeds of or payments under a life insurance policy by any means other than a lump sum payment.