|  | 7.__Approval of rates.__The association shall file with the | 
| superintendent for approval the proposed rates and supplemental | 
| rate information to be used in connection with the issuance of | 
| policies or endorsements.__Rates must be set in an amount | 
| sufficient to carry all claims to maturity and to meet the | 
| expenses incurred in the writing and servicing of the business.__ | 
| Within 60 days of the filing of the proposed rates, the | 
| superintendent shall enter an order either approving or | 
| disapproving, in whole or in part, the proposed rates.__The | 
| superintendent may, upon notice to the association, extend the | 
| period for entering an order under this section an additional 30 | 
| days.__Such a policy or endorsement may not be issued until such | 
| time as the superintendent approves the rates to be applied to | 
| the policy or endorsement.__An order disapproving a rate must | 
| state the grounds for the disapproval and the findings in support | 
| of the disapproval. |