In case of conflict of names hereafter between two insurers, or a conflict otherwise prohibited under §§ 58-6-14 to 58-6-17 , inclusive, the director may require, as a condition to the issuance of an original certificate of authority to an applicant insurer, the insurer to use in this state such supplementation or modification of its name or such business name as may reasonably be necessary to avoid the conflict. No such name, supplementation, or modification shall contain the principal identifying factor of the name of any other insurer already authorized to transact insurance in this state.
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