20-1110. Approval of forms
A. Any life or disability insurance policy form, life or disability insurance
application form where written application is required and is to be made a part of the
policy and printed rider or endorsement form, shall not be delivered or issued for
delivery in this state by a life or disability insurer unless it has been filed with and
approved by the director. The director may also require that proof of death or loss forms
shall be filed with and approved by the director.
B. This section shall not apply to policies, riders, endorsements or forms of
unique character designed and used for insurance on a particular subject, or that relate
to the manner of distribution of benefits or to the reservation of rights and benefits
under life or disability insurance policies, and are used at the request of the
individual policyholder, contract holder or certificate holder.
C. Every filing shall be made not less than thirty days in advance of any delivery.
The form is approved thirty days after filing unless the director has, within the thirty
day period, issued an order affirmatively approving or disapproving the form. The
director may extend by not more than an additional fifteen days the period for review of
the form, by giving notice of the extension before expiration of the initial thirty day
period. The director may at any time, after notice and for cause shown, withdraw the
director's approval.
D. Any order of the director disapproving the form or withdrawing a previous
approval shall state the reasons for the action.
E. A life or disability insurer shall not issue or deliver any advertising matter
or sales material to any person in this state until the life or disability insurer files
the advertising matter or sales material with the director. This subsection does not
require a life or disability insurer to have the prior approval of the director to issue
or deliver the advertising matter or sales material. If the director finds that the
advertising matter or sales material, in whole or in part, is false, deceptive or
misleading, the director may issue an order disapproving the advertising matter or sales
material, directing the life or disability insurer to cease and desist from issuing,
circulating, displaying or using the advertising matter or sales material within a period
of time specified by the director but not less than ten days and imposing any penalties
prescribed in this title. At least five days before issuing an order pursuant to this
subsection, the director shall provide the life or disability insurer with a written
notice of the basis of the order to provide the life or disability insurer with an
opportunity to cure the alleged deficiency in the advertising matter or sales material
within a single five day period for the particular advertising matter or sales material
at issue. The life or disability insurer may appeal the director's order pursuant to
title 41, chapter 6, article 10. Except as otherwise provided in this subsection, a life
or disability insurer may obtain a stay of the effectiveness of the order as prescribed
in section 20-162. If the director certifies in the order and provides a detailed
explanation of the reasons in support of the certification that continued use of the
advertising matter or sales material poses a threat to the health, safety or welfare of
the public, the order may be entered immediately without opportunity for cure and the
effectiveness of the order is not stayed pending the hearing on the notice of appeal but
the hearing shall be promptly instituted and determined.
F. The director may, by order, exempt from the requirements of this section for so
long as the director deems proper any insurance document or form as specified in the
order, to which, in the director's opinion, this section may not practicably be applied,
or the filing and approval of which are, in the director's opinion, not desirable or
necessary for the protection of the public.
G. This section shall apply also to any form used by domestic insurers for delivery
in a jurisdiction outside this state, if the insurance supervisory official of that
jurisdiction informs the director that the form is not subject to approval or disapproval
by that official, and on the director's order requiring the form to be submitted to the
director for the purpose. The applicable same standards shall apply to these forms as
apply to forms for domestic use.
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