State Affairs and Government

Department of Business Regulation

SECTION 42-14-5

§ 42-14-5. Administrator of banking and insurance.

(a) The director of business regulation shall, in addition to his or her regular duties, act as administrator of banking and insurance and shall administer the functions of the department relating to the regulation and control of banking and insurance, foreign surety companies, sale of securities, building and loan associations, and fraternal benefit and beneficiary societies.

(b) Wherever the words "banking administrator" or "insurance administrator" occur in this chapter or any general law, public law, act, or resolution of the general assembly or department regulation, they shall be construed to mean banking commissioner and insurance commissioner except as delineated in subsection (d) below.

(c) "Health insurance" shall mean "health insurance coverage," as defined in §§ 27-18.5-2 and 27-18.6-2, "health benefit plan," as defined in § 27-50-3 and a "medical supplement policy," as defined in § 27-18.2-1 or coverage similar to a Medicare supplement policy that is issued to an employer to cover retirees, and dental coverage, including, but not limited to, coverage provided by a nonprofit dental service plan as defined in subsection 27-20.1-1(3).

(d) Whenever the words "commissioner," "insurance commissioner", "Health insurance commissioner" or "director" appear in Title 27 or Title 42, those words shall be construed to mean the health insurance commissioner established pursuant to § 42-14.5-1 with respect to all matters relating to health insurance. The health insurance commissioner shall have sole and exclusive jurisdiction over enforcement of those statutes with respect to all matters relating to health insurance.

History of Section.
(P.L. 1939, ch. 660, § 122; G.L. 1956, § 42-14-5; P.L. 1978, ch. 153, § 1; P.L. 2004, ch. 446, § 1; P.L. 2004, ch. 557, § 1; P.L. 2006, ch. 613, § 1.)