58-30-1.2. Rejected business defined. Rejected business is a risk that an insurer then represented by the insurance producer has rejected for underwriting reasons, or is willing to accept only on a substandard basis; but which business will be accepted and issued by another authorized insurer at a lower rate.
Source: SL 1982, ch 365, § 7; SL 2001, ch 286, § 155.
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