58-26-41. Unearned premium reserve on marine and transportation insurance.
52 words·~1 min read·
/sd/title-58/chapter-58-26/58-26-41·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the director may require the insurer to carry a reserve equal to one hundred percent of premiums on trip risks written during the month ended as of the date of statement.