Director approval required to establish additional classes of business--Rates or rating methodologies

The director may approve the establishment of additional classes of business upon application to the director and a finding by the director that such action would enhance the efficiency and fairness of the individual marketplace. Nothing in §§ 58-17-66 to 58-17-87 , inclusive, requires a carrier to change any of its rates or rating methodologies for any business other than the individual business subject to the provisions of §§ 58-17-66 to 58-17-87 , inclusive. Source: SL 1996, ch 286 , § 8.