South Dakota § 58-33-99 Circumstances in which licensee should know product is unauthorized health insurance.

South Dakota Statutes

§ 58-33-99 — Circumstances in which licensee should know product is unauthorized health insurance.

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

Circumstances where a licensee reasonably should know that a product is unauthorized health insurance include the following:

(1)The licensee knows that the product is represented to be a self-funded plan and that it is offered widely to the multiple employers or generally to individuals;

(2)The licensee knows that the product is a professional employer organization self-funded plan and that it is offered widely to multiple client employers; or (3) The licensee knows that the plan is represented to be a self-funded plan established or maintained pursuant to a collective bargaining agreement and that the plan is offered widely to multiple employers, or generally to individuals, or both, through agents who are compensated on a commission or similar basis. A licensee may provide oth

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Circumstances where a licensee reasonably should know that a product is unauthorized health insurance include the following: (1) The licensee knows that the product is represented to be a self-funded plan and that it is offered widely to the multiple employers or generally to individuals; (2) The licensee knows that the product is a professional employer organization self-funded plan and that it is offered widely to multiple client employers; or (3) The licensee knows that the plan is represented to be a self-funded plan established or maintained pursuant to a collective bargaining agreement and that the plan is offered widely to multiple employers, or generally to individuals, or both, through agents who are compensated on a commission or similar basis. A licensee may provide other evidence to the division to indicate that the licensee did not reasonably know that a product is unauthorized. In making its determination regarding whether a licensee should have known the product is unauthorized and the appropriateness of any penalty for failing to notify the division of such a product, the division shall consider the prior experience and the existence or lack of training of that licensee.

South Dakota § 58-33-99 (Circumstances in which licensee should know product is unauthorized health insurance.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.