58-15-26.3. Interest not required where beneficiary elects to receive other than lump sum payment.
The provisions of §58-15-26.1 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.
Source: SL 1987, ch 375, §3.