There is a newer version of the South Dakota Codified Laws
2012 South Dakota Codified Laws
Title 54 DEBTOR AND CREDITOR
Chapter 04. Money Lending Licenses
§54-4-59 Property insurance required.
SD Codified L § 54-4-59 (through 2012) What's This?
54-4-59. Property insurance required. A creditor may require property insurance on any loan secured by tangible property. The amount of insurance required shall be reasonable and appropriate considering the nature of the property, the amount of the loan, the maturity of the loan, and any other circumstances. The insurance policy shall show the creditor as the loss payee, unless waived by the creditor.
Source: SL 1998, ch 280, § 24.
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