Car insurance, notice of nonrenewal provisions revised.
ENTITLED, An Act
revise certain provisions relating to notice or nonrenewal of automobile
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended to read as follows:
fail to renew a policy unless
it shall mail
the insurer mails
to the named insured, at the address shown in the policy, at least sixty days' advance
intention not to renew. This section
If the insurer has manifested its willingness to renew;
If the policyholder is transferred to an insurer that is a member of the same insurance
group as the previous insurer and notice of such transfer is given in the form adopted by
rule by the Division of Insurance pursuant to chapter 1-26; nor
In case of nonpayment of premium
; provided that
, notwithstanding the failure
of an insurer to comply with this section, the policy shall terminate on the effective date
of any other insurance policy with respect to any automobile designated in both policies.
Renewal of a policy
not constitute a waiver or estoppel with respect to grounds for
cancellation which existed before the effective date of such renewal.
Signed February 28, 2000.