Title 08, Title 08: Banking and Insurance

§ 8504. Meetings and acts of the Commission (a) The Commission shall meet and take such actions as are consistent with the provisions of this compact and the bylaws. (b) Each member of the Commission shall have the right and power to cast a vote to which that compacting state is …

§ 8505. Rules and operating procedures; rulemaking functions of the Commission and opting out of uniform standards (a) Rulemaking authority. The Commission shall adopt reasonable rules, including uniform standards, and operating procedures in order to effectively and efficiently …

§ 8506. Commission records and enforcement (a) The Commission shall adopt rules establishing conditions and procedures for public inspection and copying of its information and official records, except such information and records involving the privacy of individuals and insurers’…

§ 8507. Dispute resolution The Commission shall attempt, upon the request of a member, to resolve any disputes or other issues that are subject to this compact and that may arise between two or more compacting states, or between compacting states and noncompacting states, and the…

§ 8508. Product filing and approval (a) Insurers and third-party filers seeking to have a product approved by the Commission shall file the product with, and pay applicable filing fees to, the Commission. Nothing in this chapter shall be construed to restrict or otherwise prevent…

§ 8509. Review of Commission decisions regarding filings (a) Not later than 30 days after the Commission has given notice of a disapproved product or advertisement filed with the Commission, the insurer or third-party filer whose filing was disapproved may appeal the determinatio…

§ 8510. Finance (a) The Commission shall pay or provide for the payment of the reasonable expenses of its establishment and organization. To fund the cost of its initial operations, the Commission may accept contributions and other forms of funding from the National Association o…

§ 8511. Compacting states; effective date and amendment (a) Any state is eligible to become a compacting state. (b) The compact shall become effective and binding upon legislative enactment of the compact into law by two compacting states; provided the Commission shall become eff…

§ 8512. Withdrawal (a) Once effective, the compact shall continue in force and remain binding upon each and every compacting state; provided, that a compacting state may withdraw from the compact (“withdrawing state”) by enacting a statute specifically repealing the statute that …

§ 8513. Default (a) If the Commission determines that any compacting state has at any time defaulted (“defaulting state”) in the performance of any of its obligations or responsibilities under this compact, the bylaws or duly adopted rules or operating procedures, after notice an…

§ 8514. Dissolution of compact (a) The compact dissolves effective upon the date of the withdrawal or default of the compacting state that reduces membership in the compact to one compacting state. (b) Upon the dissolution of this compact, the compact becomes null and void and sh…

§ 8515. Severability and construction (a) The provisions of this compact shall be severable and if any phrase, clause, sentence, or provision is deemed unenforceable, the remaining provisions of the compact shall be enforceable. (b) The provisions of this compact shall be liberal…

§ 8516. Other laws (a) Nothing in this chapter prevents the enforcement of any other law of a compacting state, except as provided in subsection (b) of this section. (b) For any product approved or certified to the Commission, the rules, uniform standards, and any other requireme…

§ 8517. Binding effect of this compact (a) All lawful actions of the Commission, including all rules and operating procedures adopted by the Commission, are binding upon the compacting states. (b) All agreements between the Commission and the compacting states are binding in acco…