58-43-16.10. Hardship waiver of requirements of §§ 58-43-16.2 to 58-43-16.9, inclusive.
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/sd/title-58/chapter-58-43/58-43-16-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
An insurer with direct written and assumed premiums, excluding premiums reinsured with the Federal Crop Insurance Corporation and Federal Flood Program, of less than five hundred million dollars may make application to the director for a waiver from the requirements of §§ 58-43-16.2 to 58-43-16.9 , inclusive, based upon hardship. The insurer shall file, with the insurer's annual statement filing, the approval for relief from §§ 58-43-16.2 to 58-43-16.9 , inclusive, with the states that the insurer is licensed in or doing business in and with the National Association of Insurance Commissioners.
If the nondomestic state accepts electronic filing with the National Association of Insurance Commissioners, the insurer shall file the approval in an electronic format acceptable to the National Association of Insurance Commissioners.