§ 40-14-432 — Filing and approval of rates and forms

(a) A creditor may not use a form or a schedule of premium
rates or charges, the filing of which is required by this
section, if the commissioner of insurance has disapproved the
form or schedule and has notified the insurer of his
disapproval. A creditor may not use a form or schedule unless:
(i) The form or schedule has been on file with the
commissioner of insurance for thirty (30) days, or has earlier
been approved by him; and
(ii) The insurer has complied with this section with
respect to the insurance.
(b) Except as provided in subsection (c) of this section,
all policies, certificates of insurance, notices of proposed
insurance, applications for insurance, endorsements and riders
relating to consumer credit insurance delivered or issued for
delivery in this state, and the schedules of premium rates or
charges pertaining thereto, shall be filed by the insurer with
the commissioner of insurance. Within thirty (30) days after the
filing of any form or schedule, he shall disapprove it if the
premium rates or charges are unreasonable in relation to the
benefits provided under the form, or if the form contains
provisions which are unjust, unfair, inequitable, or deceptive,
or encourage misrepresentation of the coverage, or are contrary
to any provision of the Insurance Code or of any rule or
regulation promulgated thereunder.
(c) If a group policy has been delivered in another state,
the forms to be filed by the insurer with the commissioner of
insurance are the group certificates and notices of proposed
insurance. He shall approve them if:
(i) They provide the information that would be
required if the group policy were delivered in this state; and
(ii) The applicable premium rates or charges do not
exceed those established by his rules or regulations.
Part 3. Property and Liability Insurance