58-33-16. Credit life insurance permitted as inducement for purchases.
Section 58-33-15 shall not apply to insurance on the life of a debtor pursuant to or in connection with a specific loan or other credit transaction, or insurance on a debtor to provide indemnity for payments becoming due on a specific loan or other credit transaction while the debtor is disabled as defined in the policy.
Source: SL 1966, ch 111, ch 13, §14 (2).