The director may exempt from the application of this chapter any domestic property and casualty insurer which meets the following requirements:

1. (1) Writes direct business only in this state;
2. (2) Writes direct annual premiums of $2,000,000 or less; and

3. (3) Assumes no reinsurance in excess of five percent of direct premiums written.

   The director may exempt from the application of this chapter any domestic health organization which meets the following requirements:

4. (1) Writes direct business only in this state;
5. (2) Assumes no reinsurance in excess of five percent of direct premiums written; and
6. (3) Writes direct annual premiums for comprehensive medical business of $2,000,000 or less; or
7. (4) Is a limited health service organization that covers less than 2,000 lives.

Source: 23 SDR 228, effective July 3, 1997; 41 SDR 93, effective December 3, 2014.

General Authority: SDCL 58-4-48.

Law Implemented: SDCL 58-4-48.

Prior versions effective: 1997-07-03.