If within thirty days after a specific inland marine rate on a risk specially rated by a rating organization or after a special surety or guaranty filing subject to § 58-24-17 has become effective, the director finds that such filing does not meet the requirements of this chapter, he shall send to the rating organization or insurer which made such filing written notice of disapproval of such filing specifying therein in what respects he finds that such filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, such filing shall be deemed no longer effective. Said disapproval shall not affect any contract made or issued prior to the expiration of the period set forth in said notice.

Terms Used In South Dakota Codified Laws 58-24-20

  • Contract: A legal written agreement that becomes binding when signed.
  • written: include typewriting and typewritten, printing and printed, except in the case of signatures, and where the words are used by way of contrast to typewriting and printing. See South Dakota Codified Laws 2-14-2

Source: SL 1966, ch 111, ch 15, § 5 (2).

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