58-4-1.   Rules--Adoption by director of insurance--Purpose--Scope. The director of the Division of Insurance may promulgate rules pursuant to chapter 1-26 to administer the provisions of this title. No rule may extend, modify, or conflict with any provision of this title or the reasonable implications thereof.

     The director may not pass a rule pertaining to the replacement of existing life insurance. However, a rule may be adopted requiring the insurer or its insurance producer replacing a life insurance policy to provide written notification of the replacement to the insurer of the existing policy within ten days prior to the delivery date of the new policy coverage.

Source: SL 1966, ch 111, ch 2, § 13 (1); SL 1982, ch 351; SL 1986, ch 22, § 27; SL 2001, ch 286, § 65.

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