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Code · South Dakota · Title 58 · Chapter 58-24

58-24-70. Exemption from rate and form filing requirements for policy issued to exempt commercial policyholder--Disclosure requirements.

116 words·~1 min read·/sd/title-58/chapter-58-24/58-24-70·

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An insurer issuing a policy to an exempt commercial policyholder is exempt, except as provided for in §§ 58-24-68 to 58-24-74 , inclusive, from the rate filing requirements of chapter 58-24 and the form filing requirements of § 58-11-12 . At the time of soliciting an exempt commercial policyholder to purchase insurance, the insurance producer, or the insurer in the case of a direct procurement from the insurer, shall disclose to the policyholder and the policyholder's risk manager, on a form created by the insurer, that a premium or rate may be quoted or a policy form may be used that is not subject to the rate and form filing requirements of the Division of Insurance.
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