Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, readjustment of the rate of premium for a group insurance policy based on the loss or expense experience thereunder, at the end of the first or any subsequent policy year of insurance thereunder, which may be made retroactive only for such policy year.
S.D. Codified Laws § 58-33-19
Readjustment of premium rate permitted for group policy based on loss or expense experience
Known as the Unauthorized Insurers False Advertising Process Act
The act spans §§ 58–58 (145 sections).
Source: SL 1966, ch 111, ch 13, § 15 (3).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.