Title 27, Title 27 Title 27

(a) No provision of this chapter shall derogate from the common law or statutory authority of the attorney general nor shall any provision be construed as a limitation on the common law or statutory authority of the attorney general, including the authority to investigate at any …

(a) In the event of the approval of a conversion involving a not-for-profit corporation, as an acquiree, it may be required that the proceeds from the sale and any endowments, restricted, unrestricted and specific purpose funds may be transferred to a charitable foundation establ…

The board is vested with full power, authority, and jurisdiction over the foundation and may perform all acts necessary or convenient in the exercise of any power, authority, or jurisdiction over the foundation; including the power to intervene in any cy pres proceeding involving…

The members of the board and officers or employees of the foundation are not liable personally, either jointly or severally, for any debt or obligation created or incurred by the foundation unless that conduct is deemed to be gross misconduct or reckless.

(a) The attorney general may take all steps necessary to effectuate the purposes of § 27-66-15 and the board shall be appointed no more than sixty (60) days after the completion of the conversion. The board shall act promptly to appoint an executive director, hire any staff as ne…

The board shall submit an annual report and a copy of Form 990 as required by the Internal Revenue Service to the governor, the attorney general, and the legislature.

The general assembly finds and declares that: (1) Rhode Island has a proud history of health insurance companies including health insurance corporations, health maintenance organizations, nonprofit hospital service corporations, and nonprofit medical service corporations doing bu…

For the purposes of exercising the specific powers granted in this chapter and effectuating the other purposes of this chapter, the foundation: (1) May be sued and sue; (2) May have a seal and alter it at will; (3) May make, amend, and repeal rules relating to the conduct of the …

If any person knowingly violates or fails to comply with any provision of this chapter or willingly or knowingly gives false or incorrect information: (1) The director may, after notice and opportunity for a prompt and fair hearing to the applicant or licensee, deny, suspend, or …

The department may adopt rules, including measurable standards, as may be necessary to accomplish the purpose of this chapter.

The director shall have the power to decide whether any information required by this chapter of an applicant is confidential and/or proprietary. The decisions by the department of business regulation shall be made prior to any public notice of an initial application or any public…

No proposed conversion shall be subject to this chapter in the event that the health insurance corporation, health maintenance corporation, a nonprofit hospital service corporation, nonprofit medical service corporation, or affiliate or subsidiary of them is subject to an order f…

The acquirors shall be subject to the provisions of chapters 17.12 [repealed] and 17.13 [repealed] of title 23.

The provisions of this chapter shall supersede the provisions of chapters 19, 20, and 41 of this title in conflict with this chapter. Except as expressly provided in this chapter, this chapter shall supersede chapter 35 of this title with respect to conversions subject to this ch…

If any provision of this chapter or its application to any person or circumstances is held invalid, that invalidity shall not affect other provisions or applications of the chapter, which can be given effect without the invalid provision or application, and to this end the provis…

This chapter shall apply to health insurance corporations subject to chapter 1 of this title, nonprofit hospital or medical service corporations subject to chapter 19 or 20 of this title, and health maintenance organizations incorporated or resident in the state of Rhode Island.

For purposes of this chapter: (1) “Acquiree” means the person or persons that lose(s) any ownership or control in a health insurance corporation, health maintenance organization, nonprofit hospital service corporation, or nonprofit medical service corporation. (2) “Acquiror” mean…

A conversion shall require review and approval from the department of business regulation, after a public hearing, in accordance with the provisions of this chapter.

(a) No person shall engage in a conversion involving the establishment, maintenance, or operation of a health insurance corporation, health maintenance organization, nonprofit hospital service corporation, or nonprofit medical service corporation, without prior approval of the de…

(a) The department of attorney general shall review all conversions involving a health insurance corporation, health maintenance organization, nonprofit hospital service corporation, or nonprofit medical service corporation. (b) The department of attorney general shall, within tw…

It being generally contrary to the public interest to lose local control of a nonprofit health insurer providing the majority of private health insurance coverage within the state, and such payments as are herein forbidden providing inducements to do so for personal gain, no offi…

(a) The department shall review all proposed conversions involving a health insurance corporation, health maintenance organization, nonprofit hospital service corporation, or a nonprofit medical service corporation. (b) In reviewing proposed conversions in accordance with subsect…

The department of business regulation and/or the department of the attorney general may, in effectuating the purposes of this chapter, engage experts or consultants including, but not limited to, actuaries, investment bankers, accountants, attorneys, or industry analysts. All cop…