SDCL § 58-15-15.12: Insurance policy loan--Application of statutes on interest rates to prior contracts.

The provisions of §§ 58-15-15.4 to 58-15-15.12, inclusive, do not apply to any insurance contract issued before July 1, 1982, unless the policyholder agrees in writing to the applicability of the provisions. No other provision of the law applies to policy loan interest rates unless specifically applicable to such rates.