58-16-23. Issuance of group life policy to creditor--Purpose. 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.
Source: SL 1966, ch 111, ch 24, § 1 (2).
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