29.1560 Approval.

Cite as [A.S.C.A. § 29.1560]

(a) All rates, rate schedules, rate plans, and methods of computing rates to be applied to any insurance transacted in American Samoa must be filed in the office of the Commissioner, and before any rates may be charged, advertised, publicized, or otherwise represented, they must have the approval of the Commissioner.

(b) No insurer may use any rates in violation of this section, or alter, amend, or otherwise change any rates without the approval of the Commissioner.

(c) No insurer may charge any rate for any insurance transacted in American Samoa in excess of the rate approved by the Commissioner for that insurer for that risk and class of insurance.

(d) A filing shall be open to public inspection immediately upon submission to the Commissioner.

History: 1974, PL 13-58 § 1; amd 1977, PL 15-29.

Amendment: 1977 subsection (c): substituted “in excess of the rate, for other than the rate”.