58-29D-6. Termination of written agreement--Suspension of underwriting authority--Dispute.
The insurer or administrator may, with written notice, terminate the written agreement for cause as provided in the agreement. The insurer may suspend the underwriting authority of the administrator during the pendency of any dispute regarding the cause for termination of the written agreement. The insurer must fulfill any lawful obligations with respect to policies affected by the written agreement, regardless of any dispute between the insurer and the administrator. The insurer must file the notice and the reason for termination with the director within thirty days of such termination.
Source: SL 1992, ch 352, ยง6.
Structure South Dakota Codified Laws
Chapter 29D - Regulation Of Life And Health Administrators
Section 58-29D-1 - Definition of terms.
Section 58-29D-2 - Administrator defined--Exceptions.
Section 58-29D-3 - Insurer defined.
Section 58-29D-4 - Written agreement between administrator and insurer.
Section 58-29D-5 - Provisions of written agreement.
Section 58-29D-6 - Termination of written agreement--Suspension of underwriting authority--Dispute.
Section 58-29D-8 - Recordkeeping by administrator.
Section 58-29D-9 - Director's access to administrator's records--Confidentiality.
Section 58-29D-10 - Insurer's ownership of administrator's records.
Section 58-29D-11 - Transfer of records to new administrator.
Section 58-29D-12 - Advertising--Approval of insurer.
Section 58-29D-14 - Fiduciary capacity of administrator--Accounting of underwriting transactions.
Section 58-29D-15 - Records of deposits and withdrawals from fiduciary account.
Section 58-29D-16 - Provisions in written agreement as to withdrawals from fiduciary account.
Section 58-29D-18 - Compensation of administrator.
Section 58-29D-20 - Delivery of written communications from insurer.
Section 58-29D-21 - Administrator's license or registration required.
Section 58-29D-22 - Application by administrator--Contents--Fee.
Section 58-29D-22.1 - Annual financial statement--Contents of application--Required audit.
Section 58-29D-23 - Inspection of applicant's contracts.
Section 58-29D-24 - Denial of license.
Section 58-29D-25 - Validity of license.
Section 58-29D-26 - Conditions not requiring license.
Section 58-29D-27 - Servicer of certain employee benefit plans--Exempt from licensure--Requirements.
Section 58-29D-28 - Notice of administrator's change in circumstance.
Section 58-29D-29 - Waiver of application requirements.
Section 58-29D-30 - Annual renewal of administrator--Fee--Lapse of license or registration.
Section 58-29D-31 - Grounds for denial, suspension, or revocation of license or registration.
Section 58-29D-32 - Immediate suspension of license--No notice required.
Section 58-29D-33 - Money penalty in lieu of suspension or revocation.