SDCL § 58-24-36: Issuance of license--Finding by director--Time for granting or denying application.

If the director finds that the applicant is competent, trustworthy, and otherwise qualified to act as a rating organization and that the contents of its application conform to the requirements of law, the director shall issue a license specifying the kinds of insurance, or subdivisions or classes of risks or parts or combinations thereof for which the applicant is authorized to act as a rating organization. Each application shall be granted or denied in whole or in part by the director within sixty days of the date of its filing with the director.