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§ 58-11-63 Regulation of form and content of policies, policy forms, standards, and procedures for filings, cancellation, and nonrenewal of policies.

SD Codified L § 58-11-63 (2019) (N/A)
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58-11-63. Regulation of form and content of policies, policy forms, standards, and procedures for filings, cancellation, and nonrenewal of policies. The division may promulgate rules pursuant to chapter 1-26 to establish specific requirements for the regulation of the form and content of policies and policy forms, standards, and procedures for filings, and the cancellation and nonrenewal of policies as found in this chapter. The requirements may include:

(1) Definition of terms used in the rules;

(2) Standards for the issuance of waivers;

(3) Standards for determining what are substantially similar provisions as provided by § 58-11-7;

(4) Filing, content, requirements, and procedures for policy forms;

(5) Standards for orders for exemption;

(6) Binder requirements;

(7) Procedures and requirements for cancellation and nonrenewal of policies;

(8) Operation requirements of the assigned risk plan including approval of plan rules;

(9) Replacement of coverage and calculation of refunds; and

(10) Procedures for collection of applicable fees by the director.Source: SL 1994, ch 377.

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