58-29B-14. Director's determination of continuation of business hazardous--Notification of insurer.
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/sd/title-58/chapter-58-29/58-29b-14·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If upon examination or at any other time the director has reasonable cause to believe or determines that any domestic insurer is in such condition as to render the continuance of its business hazardous to the public or to holders of its policies or certificates of insurance, or if such domestic insurer gives its consent, then the director shall upon his determination:
(1)Notify the insurer of his determination; and
(2)Furnish to the insurer a written list of the director's requirements to abate his determination.