58-11-62 Notice of intent to cease marketing block of business--What constitutes cessation of marke...
Notice of intent to cease marketing block of business--What constitutes cessation
of marketing block of business.
No insurer may cease marketing a block of business in this state
unless, at least ninety days prior to the cessation of marketing, the insurer submits to the director
written notice of the intent to cease marketing, including a statement of the facts and causes for
cessation. Cessation of marketing a block of business includes discontinuing selling insurance as
defined in chapter 58-9 as follows:
All lines or any one line;
All policies under one policy form;
All individual or group policies; or
All commercial or personal policies.
The director may, upon request, waive any portion of the ninety-day notice period required by
this section if the director determines that the insurer could not have reasonably complied with the
Source: SL 1991, ch 399.