58-26-93. Adoption of change to valuation manual. The director may approve a change to the valuation manual pursuant to rules promulgated pursuant to chapter 1-26 when the change to the valuation manual is adopted by the NAIC by an affirmative vote representing:
(1) At least three-fourths of the members of the NAIC voting, but not less than a majority of the total membership; and
(2) Members of the NAIC representing jurisdictions totaling greater than seventy-five percent of the direct premiums written as reported in the following annual statements most recently available prior to the vote in subdivision (1) above: life, accident, and health annual statements, health annual statements, or fraternal annual statements.Source: SL 2015, ch 254, § 27.
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