2001-S 242
Enacted 7/9/2001

A  N     A   C   T


Introduced By:  Senator David E. Bates Date Introduced:  February 6, 2001

It is enacted by the General Assembly as follows:

SECTION 1. Section 27-36-2 of the General Laws in Chapter 27-36 entitled "Consumer Representation at Rate Hearings" is hereby amended to read as follows:

27-36-2. Annual assessments of insurance companies -- (a) The insurance commissioner shall make an annual assessment against each insurance company, those corporations and other entities subject to chapters 19, 20, 20.1, and 20.2 of this title and chapter 62 of title 42, and the Rhode Island group health association for payment of all reasonable expenditures incurred by the attorney general and the consumers' council in representation at insurance rate hearings for matters involving insurance regulation. The assessments shall be in such amounts as shall be determined and certified annually by the attorney general to the insurance commissioner as sufficient reimbursement for the expenditures of the attorney general and consumers' council and shall be assessed by the insurance commissioner proportionately against each company.

(b) A company may meet its obligations under this section by directly reimbursing the attorney general and by notifying the commissioner of the amount of the payment.

(c) Assessments made pursuant to this section may be credited to the normal operating costs of each company and shall be deposited as general revenue.

SECTION 2. This act shall take effect upon passage.

As always, your comments concerning this page are welcomed and appreciated.

Thank you for stopping by!