Section 58-24-10.2 - Rate information required to be filed prior to effective date on finding that closersupervision is required--Extension of waiting period--Approval or disapproval. - South Dakota Statutes

58-24-10.2. Rate information required to be filed prior to effective date on finding that closer supervision is required--Extension of waiting period--Approval or disapproval. The director of the Division of Insurance may by order require that a particular insurer otherwise entitled to file its rates in accordance with § 58-24-10.1, file any or all of its rates and supplementary rate information thirty days prior to their effective date, if and to the extent that he finds, after a hearing, that the protection of the interests of its insureds and the public in this state require closer supervision of its rates because of the insurer's financial condition or rating practices. He may extend the waiting period for any filing for not to exceed thirty additional days by written notice to the insurer before the first thirty-day period expires. A filing not disapproved before the expiration of the waiting period shall be deemed to meet the requirements of this chapter, subject to the possibility of subsequent disapproval under § 58-24-21.

Source: SL 1979, ch 341, § 7.