reglab/housing_qa huggingface dataset:
RI Gen L § 27-62-4 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-62 - Life Insurance Policy Illustration|Section 27-62-4 - Policies to be illustrated.

§ 27-62-4. Policies to be illustrated.(a) Each insurer marketing policies to which this chapter is applicable shall notify the commissioner whether a policy form is to be marketed with or without an illustration. For all policy forms being actively marketed on January 1, 1999, the insurer shall identify in writing those forms and whether or not an illustration will be used with them. For policy forms filed after January 1, 1999, the identification shall be made at the time of filing. Any previous identification may be changed by notice to the commissioner.(b) If the insurer identifies a policy form as one to be marketed without an illustration, any use of an illustration for any policy using that form prior to the first policy anniversary is prohibited.(c) If a policy form is identified by the insurer as one to be marketed with an illustration, a basic illustration prepared and delivered in accordance with this chapter is required, except that a basic illustration need not be provided to individual members of a group or to individuals insured under multiple lives coverage issued to a single applicant unless the coverage is marketed to these individuals. The illustration furnished an applicant for a group life insurance policy or policies issued to a single applicant on multiple lives may be either an individual or composite illustration representative of the coverage on the lives of members of the group or the multiple lives covered.(d) Potential enrollees of non-term group life subject to this chapter shall be furnished a quotation with the enrollment materials. The quotation shall show potential policy values for sample ages and policy years on a guaranteed and non-guaranteed basis appropriate to the group and the coverage. This quotation shall not be considered an illustration for purposes of this chapter, but all information provided shall be consistent with the illustrated scale. A basic illustration shall be provided at delivery of the certificate to enrollees for non-term group life who enroll for more than the minimum premium necessary to provide pure death benefit protection. In addition, the insurer shall make a basic illustration available to any non-term group life enrollee who requests it.History of Section.P.L. 1998, ch. 56, § 1.
RI Gen L § 27-62-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-62 - Life Insurance Policy Illustration|Section 27-62-5 - General rules and prohibitions.

§ 27-62-5. General rules and prohibitions.(a) An illustration used in the sale of a life insurance policy shall satisfy the applicable requirements of this chapter, be clearly labeled "life insurance illustration" and contain the following basic information:(1) Name of insurer;(2) Name and business address of producer or insurer's authorized representative, if any;(3) Name, age and sex of proposed insured, except where a composite illustration is permitted under this chapter;(4) Underwriting or rating classification upon which the illustration is based;(5) Generic name of policy, the company product name, if different, and form number;(6) Initial death benefit; and(7) Dividend option election or application of non-guaranteed elements, if applicable.(b) When using an illustration in the sale of life insurance policy, an insurer or its producers or other authorized representative shall not:(1) Represent the policy as anything other than a life insurance policy;(2) Use or describe non-guaranteed elements in a manner that is misleading or has the capacity or tendency to mislead;(3) State or imply that the payment or amount of non-guaranteed elements is guaranteed;(4) Use an illustration that does not comply with the requirements of this chapter;(5) Use an illustration that at any policy duration depicts policy performance more favorable to the policy owner than that produced by the illustrated scale of the insurer whose policy is being illustrated;(6) Provide an applicant with an incomplete illustration;(7) Represent in any way that premium payments will not be required for each year of the policy in order to maintain the illustrated death benefits, unless that is the fact;(8) Use the term "vanish" or "vanishing premium," or a similar term that implies the policy becomes paid up, to describe a plan for using non-guaranteed elements to pay a portion of future premiums;(9) Except for policies that can never develop nonforfeiture values, use an illustration that is "lapse supported"; or(10) Use an illustration that is not "self-supporting."(c) If an interest rate used to determine the illustrated non-guaranteed elements is shown, it shall not be greater than the earned interest rate underlying the disciplined current scale.History of Section.P.L. 1998, ch. 56, § 1.
RI Gen L § 27-62-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-62 - Life Insurance Policy Illustration|Section 27-62-7 - Standards for supplemental illustrations.

§ 27-62-7. Standards for supplemental illustrations.(a) A supplemental illustration may be provided so long as:(1) It is appended to, accompanied by, or preceded by a basic illustration that complies with this chapter;(2) The non-guaranteed elements shown are not more favorable to the policy owner than the corresponding elements based on the scale used in the basic illustration;(3) It contains the same statement required of a basic illustration that non-guaranteed elements are not guaranteed; and(4) For a policy that has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration. For policies that do not require a contract premium, the premium outlay underlying the supplemental illustration shall be equal to the premium outlay shown in the basic illustration.(b) The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.History of Section.P.L. 1998, ch. 56, § 1.
RI Gen L § 27-62-8 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-62 - Life Insurance Policy Illustration|Section 27-62-8 - Delivery of illustration and record retention.

§ 27-62-8. Delivery of illustration and record retention.(a) (1) If a basic illustration is used by an insurance producer or other authorized representative of the insurer in the sale of a life insurance policy and the policy is applied for as illustrated, a copy of that illustration, signed in accordance with this chapter, shall be submitted to the insurer at the time of policy application. A copy also shall be provided to the applicant.(2) If the policy is issued other than as applied for, a revised basic illustration conforming to the policy as issued shall be sent with the policy. The revised illustration shall conform to the requirements of this regulation, shall be labeled "Revised Illustration" and shall be signed and dated by the applicant or policy owner and producer or other authorized representative of the insurer no later than the time the policy is delivered. A copy shall be provided to the insurer and the policy owner.(b) (1) If no illustration is used by an insurance producer or other authorized representative in the sale of a life insurance policy or if the policy is applied for other than as illustrated, the producer or representative shall certify to that effect in writing on a form provided by the insurer. On the same form the applicant shall acknowledge that no illustration conforming to the policy applied for was provided, and shall further acknowledge an understanding that an illustration conforming to the policy as issued will be provided no later than at the time of policy delivery. This form shall be submitted to the insurer at the time of policy application.(2) If the policy is issued, a basic illustration conforming to the policy as issued shall be sent with the policy and signed no later than the time the policy is delivered. A copy shall be provided to the insurer and the policy owner.(c) If the basic illustration or revised illustration is sent to the applicant or policy owner by mail from the insurer, it shall include instructions for the applicant or policy owner to sign the duplicate copy of the numeric summary page of the illustration for the policy issued and return the signed copy to the insurer. The insurer's obligation under this subsection shall be satisfied if it can demonstrate that it has made a diligent effort to secure a signed copy of the numeric summary page. The requirement to make a diligent effort shall be deemed satisfied if the insurer includes in the mailing a self-addressed postage prepaid envelope with instructions for the return of the signed numeric summary page.(d) A copy of the basic illustration and a revised basic illustration, if any, signed as applicable, along with any certification that either no illustration was used or that the policy was applied for other than as illustrated, shall be retained by the insurer until three (3) years after the policy is no longer in force. A copy need not be retained if no policy is issued.History of Section.P.L. 1998, ch. 56, § 1.
RI Gen L § 27-62-11 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-62 - Life Insurance Policy Illustration|Section 27-62-11 - Violations.

§ 27-62-11. Violations.Any violation of this chapter shall be sanctioned in accordance with the provisions of chapter 13.1 of title 6, the Deceptive Trade Practices Act.History of Section.P.L. 1998, ch. 56, § 1.
RI Gen L § 27-63-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-63 - Health Care Fraud Reporting Immunity|Section 27-63-1 - Immunity for reporting health care fraud.

§ 27-63-1. Immunity for reporting health care fraud.(a) No insurer, agent authorized by the insurer to act on its behalf, or other person shall be subject to any civil or criminal liability in any cause of action for releasing or providing in good faith to a law enforcement agency factually accurate information relating to suspected or discovered health insurance fraud.(b) No employer shall discharge, or in any manner discriminate or retaliate against any person who, in good faith, makes a report to law enforcement, testifies, or is about to testify in any proceeding about the health care fraud.(c) Nothing contained in this chapter shall be construed to limit the rights and remedies available to a person pursuant to chapter 33 of title 9 or chapter 50 of title 28.History of Section.P.L. 1998, ch. 59, § 1.
RI Gen L § 27-64-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-1 - Short title.

§ 27-64-1. Short title.This chapter may be cited as the "Protected Cell Companies Act."History of Section.P.L. 1999, ch. 22, § 1.
RI Gen L § 27-64-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-2 - Purpose.

§ 27-64-2. Purpose.This act is adopted to provide a basis for the creation of protected cells by a domestic insurer as one means of accessing alternative sources of capital and achieving the benefits of insurance securitization or voluntary restructuring as contemplated under chapter 14.5 of this title, including through effectuating insurance business transfers in accordance with the procedures promulgated by the commissioner under § 27-14.5-6. Investors in fully funded insurance securitization transactions provide funds that are available to pay the insurer's insurance obligations or to repay the investors or both. The creation of protected cells is intended to be a means to achieve more efficiencies in conducting insurance securitizations or voluntary restructurings.History of Section.P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1; P.L. 2018, ch. 218, § 3; P.L. 2018, ch. 290, § 3.
RI Gen L § 27-64-7 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-7 - Conservation, rehabilitation and liquidation of protected cell companies.

§ 27-64-7. Conservation, rehabilitation and liquidation of protected cell companies.(a) Notwithstanding any contrary provision in the insurance code of this state, the rules and regulations promulgated under the insurance code, or any other applicable law or regulation, upon placement under administrative supervision or upon any order of conservation, rehabilitation or liquidation of a protected cell company, the receiver shall be bound to deal with the protected cell company's assets and liabilities including protected cell assets and protected cell liabilities in accordance with the requirements set forth in this chapter.(b) With respect to amounts recoverable under a protected cell company insurance securitization, the amount recoverable by the receiver shall not be reduced or diminished as a result of the placement under administrative supervision or entry of an order of conservation, rehabilitation or liquidation with respect to the protected cell company or any of its protected cells, notwithstanding any provisions to the contrary in the contracts or other documentation governing the protected cell company insurance securitization.History of Section.P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1.
RI Gen L § 27-64-9 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-9 - Remuneration of receivers.

§ 27-64-9. Remuneration of receivers.(a) With respect to orders of rehabilitation, conservation or liquidation directed at a protected cell company, the remuneration, expenses, and other compensation of the receiver shall be payable from the assets of the company's general account, in accordance with the priority of distribution set forth in §§ 27-14.3-46 and 27-14.4-22.(b) With respect to orders of rehabilitation, conservation or liquidation directed at a protected cell, the remuneration, expenses, and other compensation of the receiver shall be payable from the protected cell assets attributable to that protected cell. In the case where more than one protected cell is the subject of the order, the receiver shall account for remuneration, expenses, and other compensation separately for each protected cell in accordance with actual time and expenses attributable to the rehabilitation, conservation or liquidation of each respective protected cell.(c) With respect to orders of rehabilitation, conservation or liquidation directed at a protected cell company during a pending rehabilitation, conservation or liquidation of one or more protected cells, the remuneration, expenses, and other compensation of the receiver of the protected cells shall be satisfied from the protected cell assets of the protected cell or cells in accordance with the provisions of subsection (b) of this section, and the remuneration, expenses, and other compensation of the receiver of the protected cell company shall be satisfied from the assets of the company's general account.History of Section.P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1.
RI Gen L § 27-64-10 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-10 - Penalties.

§ 27-64-10. Penalties.Any person violating the provisions of this chapter shall be subject to any and all enforcement procedures either currently employed or subsequently promulgated by the commissioner including, but not limited to, the imposition of fines, sanctions, or civil penalties, or an order to cease and desist from the establishment of additional protected cells. In no event shall the commissioner have the authority to cease the business of an existing protected cell, except by placement under administrative supervision or by order of rehabilitation, conservation or liquidation in accordance with the provisions of this chapter.History of Section.P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1.
RI Gen L § 27-64-11 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-11 - No transaction of insurance business.

§ 27-64-11. No transaction of insurance business.A protected cell company insurance securitization shall not be deemed to be an insurance or reinsurance contract. An investor in a protected cell company insurance securitization shall not, by sole means of this investment, be deemed to be transacting an insurance business in this state. The underwriters or selling agents (and their partners, directors, officers, members, managers, employees, agents, representatives and advisors) involved in a protected cell company insurance securitization shall not be deemed to be conducting an insurance or reinsurance agency, brokerage, intermediary, advisory or consulting business by virtue of their activities in connection with those businesses.History of Section.P.L. 1999, ch. 22, § 1; P.L. 2001, ch. 156, § 1.
RI Gen L § 27-64-12 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-64 - The Protected Cell Companies Act|Section 27-64-12 - Rules.

§ 27-64-12. Rules.The commissioner may promulgate reasonable rules and regulations as may be necessary to effectuate the purposes of this chapter.History of Section.P.L. 1999, ch. 22, § 1.
RI Gen L § 27-65-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-65 - Commercial Special Risks|Section 27-65-2 - "Risk manager" defined.

§ 27-65-2. "Risk manager" defined.As used in this chapter, "risk manager" means a full-time employee of, or a person certified and licensed and retained by, an exempt commercial policyholder who is qualified through: (1) education and experience; or (2) training and experience; to assess an exempt commercial policyholder's insurance needs and analyze and negotiate a policy of insurance and having primary responsibility or oversight of the risk management activities/function of an exempt commercial policyholder. A risk manager shall not receive commission, fees, or other consideration from the insurer in connection with the purchase of a commercial policy of insurance by the exempt commercial policyholder.History of Section.P.L. 1999, ch. 47, § 1.
RI Gen L § 27-66-1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-66 - The Health Insurance Conversions Act|Section 27-66-1 - Short title.

§ 27-66-1. Short title.This chapter shall be known and may be cited as "The Health Insurance Conversions Act".History of Section.P.L. 1999, ch. 215, § 1; P.L. 1999, ch. 376, § 1.
RI Gen L § 27-66-2 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-66 - The Health Insurance Conversions Act|Section 27-66-2 - Findings.

§ 27-66-2. Findings.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, non-profit hospital service corporations, and non-profit medical service corporations doing business in this state;(2) Nationally and regionally private investment is being made that results in the conversion of not-for-profit into for-profit health insurance corporations, health maintenance organizations, hospital service corporations and medical service corporations;(3) These health insurance organizations and corporations provide an important health insurance product in the community. There are concerns that for profit health insurance organizations and corporations may engage in practices that affect the quality of the insurance coverage in the community as a whole and for more vulnerable members of society in particular;(4) In order to protect public health and welfare, it is necessary to establish standards and procedures for health insurance organizations and corporation conversions.History of Section.P.L. 1999, ch. 215, § 1; P.L. 1999, ch. 376, § 1.
RI Gen L § 27-66-3 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-66 - The Health Insurance Conversions Act|Section 27-66-3 - Applicability.

§ 27-66-3. Applicability.This chapter shall apply to health insurance corporations subject to chapter 1 of this title, nonprofit hospital or medical service corporations subject to chapters 19 or 20 of this title, and health maintenance organizations incorporated or resident in the state of Rhode Island.History of Section.P.L. 1999, ch. 215, § 1; P.L. 1999, ch. 376, § 1.
RI Gen L § 27-66-5 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-66 - The Health Insurance Conversions Act|Section 27-66-5 - Prior approval required - Department of business regulation.

§ 27-66-5. Prior approval required — Department of business regulation.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.History of Section.P.L. 1999, ch. 215, § 1; P.L. 1999, ch. 376, § 1.
RI Gen L § 27-66-7.1 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-66 - The Health Insurance Conversions Act|Section 27-66-7.1 - Certain financial incentives prohibited.

§ 27-66-7.1. Certain financial incentives prohibited.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 officer, director or senior management employee of a nonprofit hospital and/or medical service corporation or of any subsidiary of such corporation shall solicit, accept, receive or maintain claim of right to any financial incentive, including any pecuniary reward, based in whole or in part on the contingency of, or as a result of, the completion of a conversion. For purposes of this section, "pecuniary award" includes, but is not limited to, bonuses, cash payouts, deferred payments, stock options and enhanced retirement packages. Nothing in this section shall be deemed to prohibit the employment of such an officer, director or employee by a successor corporation or entity following the completion of a conversion, nor to prohibit reasonable severance payments where no conversion is involved.History of Section.P.L. 2004, ch. 330, § 3; P.L. 2004, ch. 567, § 3.
RI Gen L § 27-66-9 (2021)
2021 Rhode Island General Laws|Title 27 - Insurance|Chapter 27-66 - The Health Insurance Conversions Act|Section 27-66-9 - Reports, use of experts, costs.

§ 27-66-9. Reports, use of experts, costs.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 copies of reports prepared by experts and consultants, and costs associated with them, shall be made available to the transacting parties and to the public. All costs incurred under this provision shall be the responsibility of one or more transacting parties in an amount to be determined by the director as he or she deems appropriate. No application for a conversion made pursuant to the requirements of this chapter shall be considered complete unless an agreement has been executed with the director for the payment of costs in accordance with this section.History of Section.P.L. 1999, ch. 215, § 1; P.L. 1999, ch. 376, § 1.