58-24-12. Satisfaction of insurer's obligations by becoming member of or subscriber to licensed rating organization.
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/sd/title-58/chapter-58-24/58-24-12·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An insurer may satisfy its obligation to make filings pursuant to this chapter by:
(1)Becoming a member of, or a subscriber to, a licensed rating organization that makes filings; and
(2)Authorizing the director to accept filings on its behalf.
Nothing contained in this chapter may be construed as requiring any insurer to become a member of or a subscriber to any rating organization.