58-19-8. Indemnity payable by credit health insurance--Maximum amount.
The total amount of periodic indemnity payable by credit health insurance in the event of disability, as defined in the policy, shall not exceed the aggregate of the periodic scheduled unpaid installments of the indebtedness; and the amount of each periodic indemnity payment shall not exceed the original indebtedness divided by the number of periodic installments.
Source: SL 1966, ch 111, ch 27, §4 (3).