Section 58-24-62 - Suspension of license of rating organization or insurer--Failure to comply with orderof director--Time of taking effect--Duration. - South-dakota Statutes

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58-24-62. Suspension of license of rating organization or insurer--Failure to comply with order of director--Time of taking effect--Duration. The director may suspend the license of any rating organization or insurer which fails to comply with an order of the director within the time limited by such order, or any extension thereof which the director may grant. The director shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or if an appeal has been taken, until such order has been affirmed. The director may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded, or reversed.

Source: SL 1966, ch 111, ch 15, § 16.

State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-24 > Statute-58-24-62

58-24-62. Suspension of license of rating organization or insurer--Failure to comply with order of director--Time of taking effect--Duration. The director may suspend the license of any rating organization or insurer which fails to comply with an order of the director within the time limited by such order, or any extension thereof which the director may grant. The director shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or if an appeal has been taken, until such order has been affirmed. The director may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded, or reversed.

Source: SL 1966, ch 111, ch 15, § 16.

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State Codes and Statutes

Statutes > South-dakota > Title-58 > Chapter-24 > Statute-58-24-62

58-24-62. Suspension of license of rating organization or insurer--Failure to comply with order of director--Time of taking effect--Duration. The director may suspend the license of any rating organization or insurer which fails to comply with an order of the director within the time limited by such order, or any extension thereof which the director may grant. The director shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal therefrom has expired or if an appeal has been taken, until such order has been affirmed. The director may determine when a suspension of license shall become effective and it shall remain in effect for the period fixed by him, unless he modifies or rescinds such suspension, or until the order upon which such suspension is based is modified, rescinded, or reversed.

Source: SL 1966, ch 111, ch 15, § 16.