58-24-12. Satisfaction of insurer's obligations by becoming member of or subscriber to licensed rating organization.

An insurer may satisfy its obligation to make filings pursuant to this chapter by:

(1)    Becoming a member of, or a subscriber to, a licensed rating organization that makes filings; and

(2)    Authorizing the director to accept filings on its behalf.

Nothing contained in this chapter may be construed as requiring any insurer to become a member of or a subscriber to any rating organization.

Source: SL 1966, ch 111, ch 15, § 4 (2); SL 2014, ch 239, § 1.