58-26-41. Unearned premium reserve on marine and transportation insurance.
As to marine and transportation insurance, the entire amount of premiums on trip risks not terminated shall be deemed unearned; and the director may require the insurer to carry a reserve equal to one hundred percent of premiums on trip risks written during the month ended as of the date of statement.
Source: SL 1966, ch 111, ch 5, §6.