If, within thirty days after a specific inland marine rate on a risk specially rated by a rating organization subject to Section 38-73-970 has become effective, the director or his designee finds that the filing does not meet the requirements of this chapter, he shall send to the rating organization which made the filing written notice of disapproval of the filing specifying therein in what respects he finds that the filing fails to meet the requirements of this chapter and stating when, within a reasonable period thereafter, the filing is no longer effective. This disapproval does not affect any contract made or issued prior to the expiration of the period set forth in the notice.
HISTORY: Former 1976 Code Section 38-43-680 [1947 (45) 322; 1952 Code Section 37-698; 1962 Code Section 37-698] recodified as Section 38-73-1000 by 1987 Act No. 155, Section 1; 1993 Act No. 181, Section 783.