South Dakota § 58-33-103 Due diligence investigation required of insurance producer before submitting stop loss policy application for health benefit plan.

South Dakota Statutes

§ 58-33-103 — Due diligence investigation required of insurance producer before submitting stop loss policy application for health benefit plan.

South Dakota·Title 58 INSURANCE·Ch. 58-32 UNFAIR TRADE PRACTICES

An insurance producer, prior to submitting an application for a stop loss policy to an insurer for a health benefit plan offered to employees, employee dependents, or a person located in this state, shall carry out appropriate due diligence to establish that the health benefit plan is not unauthorized health insurance, including measures reasonably appropriate to establish:

(1)For any health benefit plan that is represented as established or maintained pursuant to a collective bargaining agreement, the health benefit plan is established or maintained under or pursuant to a collective bargaining agreement under the criteria provided under 29 CFR 2510.3-40 as of January 1, 2007;

(2)The health benefit plan that is not offered by an employee leasing arrangement or professional employer

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An insurance producer, prior to submitting an application for a stop loss policy to an insurer for a health benefit plan offered to employees, employee dependents, or a person located in this state, shall carry out appropriate due diligence to establish that the health benefit plan is not unauthorized health insurance, including measures reasonably appropriate to establish: (1) For any health benefit plan that is represented as established or maintained pursuant to a collective bargaining agreement, the health benefit plan is established or maintained under or pursuant to a collective bargaining agreement under the criteria provided under 29 CFR 2510.3-40 as of January 1, 2007; (2) The health benefit plan that is not offered by an employee leasing arrangement or professional employer organization to client employers; or (3) For any health benefit plan that is represented as established by a single employer, that the health benefit plan is covering solely employees, and dependents of employees, of the employer and the employer controls and directs the work of the employee.

South Dakota § 58-33-103 (Due diligence investigation required of insurance producer before submitting stop loss policy application for health benefit plan.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.