South Dakota Codified Laws 58-17A-15. Sale of second policy prohibited except as replacement–Liability of issuer
Current as of: 2023 | Check for updates
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No issuer or insurance producer may sell a medicare supplement policy to a person who has an existing, in force medicare supplement policy unless the issuer or insurance producer is replacing the existing coverage. However, no issuer is liable beyond a refund of premium for the duplication of such medicare supplement coverage when a statement, signed by the insured, is obtained from the insured verifying that no other medicare supplement coverage is then in effect.
Terms Used In South Dakota Codified Laws 58-17A-15
- Issuer: includes insurance companies, fraternal benefit societies, health care service plans, health maintenance organizations, and any other entity delivering or issuing for delivery in this state medicare supplement policies or certificates. See South Dakota Codified Laws 58-17A-1
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
Source: SL 1989, ch 432, § 3; SL 1992, ch 347, § 15; SL 2001, ch 286, § 121.