South Dakota Statutes
§ 58-11-62 — Notice of intent to cease marketing block of business--What constitutes cessation of marketing block of business.
No insurer may cease marketing a block of business in this state unless, at least ninety days prior to the cessation of marketing, the insurer submits to the director written notice of the intent to cease marketing, including a statement of the facts and causes for cessation. Cessation of marketing a block of business includes discontinuing selling insurance as defined in chapter 58-9 as follows:
(1)All lines or any one line;
(2)All policies under one policy form;
(3)All individual or group policies; or (4) All commercial or personal policies. The director may, upon request, waive any portion of the ninety - day notice period required by this section if the director determines that the insurer could not have reasonably complied with the notice requirement.
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South Dakota § 58-11-62 (Notice of intent to cease marketing block of business--What constitutes cessation of marketing block of business.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 1991, ch 399.
Nearby Sections
15
§ 58-1-1
Citation of title.§ 58-1-11
General saving clause.§ 58-1-13
Severability of provisions.§ 58-1-14
Notice of nonrenewal of policy must be mailed sixty days prior to renewal date--Exceptions.§ 58-1-14.1
Notice of refusal to renew--Thirty§ 58-1-16.1
Applicability of §§ 58-1-18
Repealed by SL 2012, ch 252, § 30.§ 58-1-2
Definition of terms.