CHAPTER 260

(SB 44)

Waiting period for filing insurance rate waiting period repealed.


         ENTITLED, An Act to  repeal certain provisions regarding waiting periods for the filing of insurance rates.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  That § 58-24-19 be amended to read as follows:

     58-24-19.   If within the waiting period or any extension thereof as provided in § 58-24-16, the director finds that a filing does not meet the requirements of this chapter, he the director shall send to the insurer or rating organization which made such the filing, written notice of disapproval of such the filing specifying therein in what respects he the director finds such the filing fails to meet the requirements of this chapter and stating that such the filing shall may not become effective.

     Section  2.  That § 58-24-16 be repealed.

     Signed March 7, 2006
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