FOR AN ACT ENTITLED, An Act to  repeal certain provisions regarding waiting periods for the filing of insurance rates.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 58-24-19 be amended to read as follows:
     58-24-19.   If within the waiting period or any extension thereof as provided in § 58-24-16, the director finds that a filing does not meet the requirements of this chapter, he the director shall send to the insurer or rating organization which made such the filing, written notice of disapproval of such the filing specifying therein in what respects he the director finds such the filing fails to meet the requirements of this chapter and stating that such the filing shall may not become effective.
     Section  2.  That § 58-24-16 be repealed.
     58-24-16.   Subject to the exception specified in § 58-24-17, each filing shall be on file for a waiting period of thirty days before it becomes effective, which period may be extended by the director for an additional period not to exceed thirty days if he gives written notice within such waiting period to the insurer or rating organization which made the filing that he needs such additional time for the consideration of such filing. Upon written application by such insurer or rating organization, the director may authorize a filing which he has reviewed to become effective before the expiration of the waiting period or any extension thereof. A filing shall be deemed to meet the requirements of this chapter unless disapproved by the director within the waiting period or any extension thereof.