The illustration actuary must file a certification with the board and with the director annually for all policy forms for which illustrations are used and before a new policy form is illustrated.

If an error in a previous certification is discovered, the illustration actuary must notify the board of directors of the insurer and the director promptly.

Source: 23 SDR 228, effective July 1, 1997.

General Authority: SDCL 58-33-5.1.

Law Implemented: SDCL 58-33-5.1.