20-1609. Filing, approval and disapproval of
forms
A. A person shall not use or issue for delivery in this state a policy, certificate
of insurance, application for insurance, endorsement or rider that relates to consumer
credit insurance unless the person has first filed the form with the director and the
director has approved the form. A person shall file each form with the director at least
thirty days before using the form. Unless the director issues an order affirmatively
approving or disapproving the form within thirty days after the filing, the form is
deemed approved. On written notice given within the thirty day period to the person
making the filing, the director may extend the period for review up to fifteen additional
days to enable the director to complete the review of the filing.
B. The director shall disapprove any form filed pursuant to subsection A if the
form contains provisions that are unjust, unfair, inequitable, misleading, ambiguous or
deceptive, that encourage misrepresentations of the coverage or that are contrary to any
provision of this title or of any rule adopted pursuant to this title.
C. If the director disapproves any form or determines that approval once given
should be withdrawn, the director shall notify the insurer of the reason for the decision
and advise the insurer of the hearing procedure prescribed by title 41, chapter 6,
article 10.
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