After July 1, 1982, any insurer may file with the director of the Division of Insurance a written notice of its election to comply with the provisions of §§ 58-15-43.1 to 58-15-43.11 , inclusive, after a specified date before January 1, 1989, which shall be the effective date of §§ 58-15-43.1 to 58-15-43.11 , inclusive, for the insurer. If an insurer makes no election, the operative date of this section for such insurer is January 1, 1989.
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