S.D. Admin. R. 20:06:36:23
Except as otherwise required by this chapter, any person engaged in any manner in the insurance business may not make, either directly or indirectly, an assertion, representation, or statement known to the public in any manner, including radio, television, and any printed form, regarding the RBC level of any insurer or health organization or regarding any component derived in the calculation of the RBC level of any insurer or health organization. Such an action is considered misleading.
If an insurer or health organization is able to prove to the director that a materially false statement comparing the insurer's or health organization's total adjusted capital to any of its RBC levels or an inappropriate comparison of any other amount to the insurer's or health organization's RBC levels has been published in a written publication, the insurer or health organization may publish an announcement in a written publication for the sole purpose of rebutting the materially false statement or inappropriate comparison.
S.D. Admin. R. 20:06:36:23
General Authority: SDCL 58-4-48.
Law Implemented: SDCL 58-4-48.