The director may promulgate rules pursuant to chapter 1-26 to protect the insurance - buying public with regard to disability income policies. However, the director shall take into account the effect any such rule may have on the availability of coverage. The rules may include: (1) Definition of terms; (2) Permissible exclusions; (3) Return of premium provisions; (4) Terms of renewability; (5) Disclosure requirements; (6) Benefit triggers, if such rules permit the use of activities of daily living as an acceptable benefit trigger; and (7) Limitations, exceptions, and reductions.
‹ Prev All South Dakota sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.