58-29D-11. Transfer of records to new administrator.
69 words·~1 min read·
/sd/title-58/chapter-58-29/58-29d-11·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
In the event the insurer and the administrator cancel their agreement, notwithstanding the provisions of § 58-29D-8 , the administrator may, by written agreement with the insurer, transfer all records to a new administrator rather than retain them for five years. In such cases, the new administrator shall acknowledge, in writing, that it is responsible for retaining the records for the prior administrator as required in § 58-29D-8 .