58-24-45.1. Group insurance marketing permitted--Conditions.
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/sd/title-58/chapter-58-24/58-24-45-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An insurer may market insurance through a group insurance or mass marketing plan, franchise, or blanket policy for any line of insurance regulated under this chapter if:
(1)The insured group was not formed solely for the purpose of purchasing insurance; and
(2)The premium is paid or collected by:
(a)An employer, labor union, or the trustee of a fund established by the employer or labor union;
(b)The trustee of a fund established by two or more employers in the same industry, or related industries;
(c)Two or more labor unions or an association which have been in existence for one or more years and which have a constitution and bylaws; or
(d)A wireless telecommunications provider from its customers and the premium is for insurance covering wireless telecommunications equipment.