58-47-9. Change in policy terms and conditions--Notice.
An insurer may terminate or otherwise change the terms and conditions of a policy of portable electronics insurance only upon providing the vendor policyholder and enrolled customers with at least twenty days notice. If the insurer changes the terms and conditions, then the insurer shall provide the vendor policyholder with a revised policy or endorsement and each enrolled customer with a revised certificate, endorsement, updated brochure, or other evidence indicating a change in the terms and conditions has occurred and a summary of material changes.
Source: SL 2012, ch 251, ยง9.
Structure South Dakota Codified Laws
Chapter 47 - Portable Electronics Insurance
Section 58-47-1 - Definitions.
Section 58-47-2 - Portable electronics insurance defined.
Section 58-47-5 - Periodic basis as group or master commercial inland marine policy.
Section 58-47-7 - Training program for vendor employees and representatives.
Section 58-47-9 - Change in policy terms and conditions--Notice.
Section 58-47-10 - Termination of insurance upon twenty days notice.
Section 58-47-11 - Immediate termination of insurance.
Section 58-47-12 - Notice of termination.
Section 58-47-13 - Notice and correspondence requirements.
Section 58-47-14 - Term of portable electronics license--Renewal.