Section 3-12A-6 - Invitation for bids from insurance carriers--Factors considered in awarding contract. - South Dakota Statutes

3-12A-6. Invitation for bids from insurance carriers--Factors considered in awarding contract. The commissioner may invite bids from all insurance carriers who are licensed to do business in South Dakota and who may wish to offer plans for the insurance coverage desired. In awarding the contract or contracts the commissioner shall take into account, among other things, the financial stability and experience of the offering carrier in the group health or dental insurance field, and carrier facilities for the handling of claims. In evaluating these factors, the commissioner may employ the services of impartial, professional insurance analysts, or actuaries or both.

Source: SL 1972, ch 23, § 6; SL 1988, ch 34, § 7; SL 1988, ch 35, § 4.