Section 58-15-15.6 - Insurance policy loan--Permitted interest rates.
58-15-15.6. Insurance policy loan--Permitted interest rates. Any policy issued on or after July 1, 1982, shall provide for policy loan interest rates through a provision permitting a maximum interest rate of not more than eight percent per annum or a provision permitting an adjustable maximum interest rate established from time to time by the life insurer, as permitted by law.
Source: SL 1982, ch 358, § 3.