Title 58, INSURANCE

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, in the case of life insurance and health insurance policies issued on the industrial debit, preauthorized check, bank draft, or similar plans, making allowance …

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, readjustment of the rate of premium for a group insurance policy based on the loss or expense experience thereunder, at the end of the first or any subsequent p…

No person shall engage in this state in any trade practice which is defined in this chapter as, or determined pursuant to this chapter to be, an unfair method of competition or an unfair or deceptive act or practice in the business of insurance. Violation of this section is a Cla…

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, reduction of premium rate for policies of large amount but not exceeding savings in issuance and administration expenses reasonably attributable to such policie…

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, issuing life or health insurance policies or annuity contracts on a salary savings or payroll deduction plan or other distribution plan at reduced rate reasonab…

Nothing in §§ 58-33-14 and 58-33-15 shall be construed as including within the definition of discrimination or rebates, issuance of health insurance policies which provide for increases in benefits to policyholders who maintain their policies continuously in force without lapse f…

All life insurance benefits shall be paid in cash to the beneficiary. No insurer engaged in the business of life insurance shall contract to pay or pay such insurance benefits to any funeral director, undertaker, or undertaking business. Violation of this section is a Class 2 mis…

No insurer or any employee or representative thereof, and no insurance producer may pay, allow, or give, or offer to pay, allow or give, directly or indirectly, as an inducement to insurance, or after insurance has been effected, any rebate, discount, abatement, credit, or reduct…

No insured named in a policy, nor any employee of such insured shall knowingly receive or accept directly or indirectly, any such rebate, discount, abatement, credit or reduction of premium, or any such special favor or advantage or valuable consideration or inducement. Violation…

No insurer shall make or permit any unfair discrimination between insureds or property having like insuring or risk characteristics, in the premium or rates charged for insurance, or in the dividends or other benefits payable thereon, or in any other of the terms and conditions o…

Nothing in §§ 58-33-24 to 58-33-26 , inclusive, prohibits the payment of commissions or other compensation to duly licensed insurance producers, or prohibits any insurer from allowing or returning to its participating policyholders, members or subscribers, lawful dividends, savin…

The following are hereby defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance, viz: The commission of any one or more of the acts prohibited by §§ 58-33-4 to 58-33-37 , inclusive. Source: SL 1966, ch 111 , ch 13, § 3.

Sections 58-33-24 to 58-33-27 , inclusive, do not apply to life insurance, health insurance, or annuity contracts. Source: SL 1966, ch 111 , ch 13, §§ 16 (5), 21 (3); SL 1979, ch 341 , § 8.

No person may require as a condition precedent to loaning money upon the security of any real or personal property, or to the renewal or extension of any loan or mortgage, or to the selling of any property under contract, that the owner of the property to whom the money is to be …

No persons shall enter into any agreement to commit, or by any concerted action commit, any act of boycott, coercion, or intimidation resulting in or tending to result in unreasonable restraint of, or monopoly in, the business of insurance. Violation of this section is a Class 2 …

Any insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer or insurers, or have a common management with any other insurer or insurers, unless such retention, investment, acquisition, or common management is inconsistent with any …

Any person otherwise qualified may be director of two or more insurers which are competitors, unless the effect thereof is to lessen substantially competition between insurers generally or tends materially to create a monopoly. Source: SL 1966, ch 111 , ch 13, § 19 (2).

No person shall willfully collect any sum as premium or charge for insurance, which insurance is not then provided or is not in due course to be provided, subject to acceptance of the risk by the insurer, by an insurance policy issued by an insurer as authorized by this title. Vi…

No person may willfully collect as premium or charge for insurance any sum in excess of or less than the premium or charge applicable to such insurance, and as specified in the policy in accordance with the applicable classifications and rates as filed with and approved by the di…

Any person who knowingly makes any false or fraudulent statement or representation with reference to any application for insurance is guilty of a Class 1 misdemeanor. Any person who knowingly presents or causes to be presented a false or fraudulent claim for the purpose of obtain…

Amounts involved in false claims or applications for insurance committed pursuant to one scheme or course of conduct, whether from the same person or several persons, may be aggregated in determining the degree of the offense under § 58-33-37 . Source: SL 1977, ch 416 , § 1.

If the director believes that any person engaged in the insurance business is engaging in this state in any method of competition or in any act or practice in the conduct of such business which is not defined in this chapter, but that such method of competition is unfair or that …

If such report charges a violation of this chapter and if such method of competition, act or practice has not been discontinued, the director may, through the attorney general of this state, at any time after the service of such report cause an action to be instituted to enjoin a…

No person who is not an insurer shall assume or use any name which deceptively infers or suggests that he is an insurer. Violation of this section is a Class 2 misdemeanor. Source: SL 1966, ch 111 , ch 13, § 24; SL 1978, ch 359 , § 2.

If, after a hearing thereon of which notice of the hearing and of the charges against him were given such person, the director of the Division of Insurance finds that any person in this state has engaged or is engaging in any act or practice defined in or prohibited under this ch…

If the director's report made under § 58-33-38 , or order on hearing made under § 58-33-40 does not charge a violation of this chapter, then any intervener in the proceedings may appeal therefrom within the time and in the manner provided in chapter 1-26 . Source: SL 1966, ch 111…

A cease and desist order pursuant to § 58-33-40 shall become final upon expiration of the time allowed for appeals from the director's orders, if no such appeal is taken, or, in event of such an appeal, upon final decision of the court if the court affirms the director's order or…

In the event of such appeal, to the extent that the director's order is affirmed, the court shall issue its own order commanding obedience to the terms of the director's order. Source: SL 1966, ch 111 , ch 13, § 4 (3).

No order of the director pursuant to § 58-33-40 or order of court to enforce it shall in any way relieve or absolve any person affected by such order from any other liability, penalty, or forfeiture under law. Source: SL 1966, ch 111 , ch 13, § 4 (4).

A violation of a desist order authorized by this chapter is a Class 2 misdemeanor. Source: SL 1966, ch 111 , ch 13, § 4 (5); SL 1978, ch 359 , § 2; SL 1990, ch 158 , § 27.

Sections 58-33-40 to 58-33-45 , inclusive, shall not be deemed to affect or prevent the imposition of any penalty provided by this title or by other law for violation of any other provision of this chapter, whether or not any such hearing is called or held or such desist order is…

Any person who claims to have been damaged by any act or practice declared to be unlawful by this chapter shall be permitted to bring a civil action for the recovery of all actual and consequential damages suffered as a result of such act or practice including reasonable attorney…

The purpose of §§ 58-33-47 to 58-33-57 , inclusive, is to subject to the jurisdiction of the director and to the jurisdiction of the courts of this state insurers not authorized to transact business in this state which place in or send into this state any false advertising design…

When used in §§ 58-33-47 to 58-33-57 , inclusive: (1) "Residents" shall mean and include any person, partnership or corporation, domestic, alien or foreign. (2) "Unfair Trade Practice Act" shall mean §§ 58-33-1 to 58-33-46.1 , inclusive, relating to unfair methods of competition …

No unauthorized foreign or alien insurer of the kind described in § 58-33-47 shall make, issue, circulate, or cause to be made, issued, or circulated, to residents of this state any estimate, illustration, circular, pamphlet, or letter, or cause to be made in any newspaper, magaz…

No person shall make, issue, circulate, or cause to be made, issued, or circulated, any estimate, circular, or statement misrepresenting the terms of any policy issued or to be issued or the benefits or advantages promised thereby or the dividends or share of the surplus to be re…

The director of insurance shall promulgate rules pursuant to chapter 1-26 to promote the proper disclosure of the terms and conditions of life insurance policies and to prohibit the misrepresentation of life insurance policies through the establishment of minimum standards for th…

If after thirty days following the giving of the notice mentioned in § 58-33-49 such insurer has failed to cease making, issuing, or circulating such false misrepresentations or causing the same to be made, issued or circulated in this state, and if the director has reason to bel…

Any of the following acts in this state, effected by mail or otherwise, by any such unauthorized foreign or alien insurer: (1) The issuance or delivery of contracts of insurance to residents of this state; (2) The solicitation of applications for such contracts; (3) The collectio…

Service of a statement of charges and notices under said Unfair Trade Practice Act shall be made by delivering to and leaving with the director or some person in apparent charge of his office, two copies thereof. Service of process issued by any court in any action, suit, or proc…

Service of statement of charges, notices, and process in any such proceeding, action, or suit shall in addition to the manner provided in § 58-33-52 be valid if served upon any person within this state who on behalf of such insurer is: (1) Soliciting insurance; or (2) Making, iss…

Service of process and notice under the provisions of this title shall be in addition to all other methods of service provided by law, and nothing in this chapter shall limit or prohibit the right to serve any statement of charges, notices, or process upon an insurer in any other…

No cease or desist order or judgment by default under §§ 58-33-51 to 58-33-53 , inclusive, shall be entered until the expiration of thirty days from the date of the filing of the affidavit of compliance. Source: SL 1966, ch 111 , ch 13, § 30 (4).

The provisions of §§ 58-33-47 to 58-33-57 , inclusive, shall be liberally construed. Source: SL 1966, ch 111 , ch 13, § 26 (2).

If any provision of this chapter or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or application of the chapter which can be given effect without the invalid provision or application, and to this end the …

Sections 58-33-47 to 58-33-57 , inclusive, may be cited as the Unauthorized Insurers False Advertising Process Act. Source: SL 1966, ch 111 , ch 13, § 25.