§33-16B-1. Filing and approval of accident and sickness rates.
Premium rate charges for any individual or group accident and
sickness insurance policy, certificate or other evidence of
insurance issued, endorsed or delivered in this state shall be
filed with the Commissioner for a waiting period of sixty days
before the charges become effective. At the expiration of sixty
days the premium rate charges filed are deemed approved unless
prior thereto the charges have been affirmatively approved or
disapproved by the Commissioner.
The Commissioner shall disapprove accident and health
insurance premium rates which are not in compliance with the
requirements of this chapter or any rule promulgated by the
Commissioner pursuant to section two of this article. The
Commissioner shall send written notice of the disapproval to the
insurer. The Commissioner may approve the premium rates before the
sixty-day period expires by giving written notice of approval.