Section 58-24-45.1 - Group insurance marketing permitted--Conditions. - South Dakota Statutes

58-24-45.1. Group insurance marketing permitted--Conditions. An insurer may market insurance through a group insurance or mass marketing plan, franchise, or blanket policy for any line of insurance regulated under this chapter, provided that the insured group was not formed solely for the purpose of purchasing insurance and that the premium is paid or collected by an employer, labor union, or the trustee of a fund established by the employer or labor union; the trustee of a fund established by two or more employers in the same industry, or related industries; two or more labor unions or an association which has been in existence for one or more years which has a constitution and bylaws; or a wireless telecommunications provider from its customers and the premium is for insurance covering wireless telecommunications equipment.

Source: SL 1979, ch 341, § 12; SL 2008, ch 270, § 1.