58-18-89. Promulgation of rules pertaining to multiple employer trusts.The director shall promulgate rules, pursuant to chapter 1-26, pertaining to multiple employer trusts in the following areas:(1)Consumer protection issues including minimum coverage standards for health policies; claims processing and payment practices; resolution of consumer complaints; compliance with federal HIPAA standards; plan termination processes and managed care protections; financial and market conduct record keeping and reporting; and unfair trade practices; and(2)Financial and plan solvency issues including investment capital requirements; surplus and deposit requirements; claims reserves, stop loss coverage, and standards for entry and exit of plan members including a nonrefundable minimum deposit of not less than two thousand five hundred dollars plus two percent of first year contributions on an annual basis; and production of financial statements, audited financial statements, and actuarial opinions. Source: SL 2005, ch 272, §3.
South Dakota Legal Code