If a small employer carrier enters into a contract, agreement, or other arrangement with a third - party administrator to provide administrative, marketing, or other services related to the offering of health benefit plans to small employers in the state, the third - party administrator is subject to §§ 58-18B-37 to 58-18B-48 , inclusive, as if it were a small employer carrier. Source: SL 1995, ch 281 , § 42.