State of South Dakota
|
SEVENTY-SEVENTH
SESSION
LEGISLATIVE ASSEMBLY, 2002 |
292H0658 |
HOUSE COMMERCE COMMITTEE ENGROSSED
NO.
HB 1281
-
01/31/2002
|
Introduced by:
Representative Derby
|
FOR AN ACT ENTITLED, An Act to
lengthen the period required for notice of nonrenewal of
certain insurance policies.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-1-14 be amended to read as follows:
58-1-14. Notice of refusal to renew an insurance policy as defined in § § 58-9-5 to 58-9-33, inclusive, except a policy of homeowner's insurance, is not effective unless mailed or delivered by the insurer to the named insured at least
thirty
sixty
days before the effective renewal date.
The policy provisions control if the policy provides for a notice of refusal to renew that exceeds
thirty
sixty
days. This section does not apply to the cancellation and nonrenewal of automobile
policies or coverages as defined in
§
58-11-45. A notice of nonrenewal is not required 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.
350 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.027 per page. . Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated byoverstrikes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 58-1-14 be amended to read as follows:
58-1-14. Notice of refusal to renew an insurance policy as defined in § § 58-9-5 to 58-9-33, inclusive, except a policy of homeowner's insurance, is not effective unless mailed or delivered by the insurer to the named insured at least
Legislative Research Council at a cost of $.027 per page. . Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by