The department may promulgate rules governing associations pursuant to chapter 1-26 concerning:

(1) Application, financial, annual reports, or other forms to be created by the department under §§ 58-20-25 to 58-20-40, inclusive;

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(2) Financial requirements of the department for approving and maintaining a certificate;

(3) Requiring an application fee not to exceed two thousand dollars; and

(4) Requiring the association to process and act upon claims in accordance with the guidelines applicable for domestic insurance companies.

Source: SL 1995, ch 282, § 7.