State of South Dakota
|
SEVENTY-SEVENTH
SESSION
LEGISLATIVE ASSEMBLY, 2002 |
292H0658 |
HOUSE ENGROSSED
NO.
HB 1281
-
02/05/2002
|
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
or to a policy of homeowner's insurance. This
section also does not apply to any other personal lines policy. A notice of refusal to renew any
other personal lines policy is not effective unless mailed or delivered by the insurer to the named
insured at least thirty days before the effective renewal date
. 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
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,
the Division of Insurance pursuant to chapter 1-26.