<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 58-11-62 - Notice of intent to cease marketing block of business--What constitutes cessation of marketing block of business. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2074587Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2074587SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074587CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2074587Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2074587DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2074587Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } p.s2074587Normal-000002 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2074587DefaultParagraphFont-000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074587000004 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2074587SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2074587SCL-000005 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2074587Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-11-62"><span class="s2074587SENU">58-11-62</span></a><span xml:space="preserve" class="s2074587SENU">. </span><span class="s2074587CL">Notice of intent to cease marketing block of business--What constitutes cessation of marketing block of business.</span></p><p dir="ltr" class="s2074587Normal-000000"><span xml:space="preserve" class="s2074587DefaultParagraphFont">No insurer may cease marketing a block of business in this state unless, at least ninety days prior to the cessation of marketing, the insurer submits to the director written notice of the intent to cease marketing, including a statement of the facts and causes for cessation. Cessation of marketing a block of business includes discontinuing selling insurance as defined in chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=58-9"><span class="s2074587DefaultParagraphFont">58-9</span></a><span xml:space="preserve" class="s2074587DefaultParagraphFont"> as follows:</span></p><p dir="ltr" class="s2074587Normal-000001"><span class="s2074587DefaultParagraphFont">(1)    All lines or any one line;</span></p><p dir="ltr" class="s2074587Normal-000001"><span class="s2074587DefaultParagraphFont">(2)    All policies under one policy form;</span></p><p dir="ltr" class="s2074587Normal-000001"><span class="s2074587DefaultParagraphFont">(3)    All individual or group policies; or</span></p><p dir="ltr" class="s2074587Normal-000001"><span class="s2074587DefaultParagraphFont">(4)    All commercial or personal policies.</span></p><p dir="ltr" class="s2074587Normal-000002"><span class="s2074587DefaultParagraphFont">The director may, upon request, waive any portion of the ninety</span><span class="s2074587DefaultParagraphFont-000003">-</span><span class="s2074587DefaultParagraphFont">day notice period required by this section if the director determines that the insurer could not have reasonably complied with the notice requirement.</span></p><p dir="ltr" class="s2074587Normal"><span xml:space="preserve" class="s2074587000004"> </span></p><p dir="ltr" class="s2074587Normal"><span class="s2074587SCL">Source:</span><span xml:space="preserve" class="s2074587SCL-000005"> SL 1991, ch 399.</span></p></div></body></html>