Section 58-26-93 - Adoption of change to valuation manualThe director may approve a change to the valuation manual pursuant to rules promulgated pursuant to chapter 1-26 when the change to the valuation manual is adopted by the NAIC by an affirmative vote representing:
(1) At least three-fourths of the members of the NAIC voting, but not less than a majority of the total membership; and(2) Members of the NAIC representing jurisdictions totaling greater than seventy-five percent of the direct premiums written as reported in the following annual statements most recently available prior to the vote in subdivision (1) above: life, accident, and health annual statements, health annual statements, or fraternal annual statements.Added by S.L. 2015, ch. 254,s. 27, eff. 7/1/2015.