58-24-45.1. Group insurance marketing permitted--Conditions.An insurer may market insurance through a group insurance or mass marketing plan, franchise, or blanket policy for any line of insurance regulated under this chapter if:(1)The insured group was not formed solely for the purpose of purchasing insurance; and(2)The premium is paid or collected by:(a)An employer, labor union, or the trustee of a fund established by the employer or labor union; (b)The trustee of a fund established by two or more employers in the same industry, or related industries; (c)Two or more labor unions or an association which have been in existence for one or more years and which have a constitution and bylaws; or(d)A wireless telecommunications provider from its customers and the premium is for insurance covering wireless telecommunications equipment. Source: SL 1979, ch 341, §12; SL 2008, ch 270, §1; SL 2014, ch 239, §12.
South Dakota Legal Code