§ 56-31-130. Construction of Chapter
This chapter is not to be construed as prohibiting any insurance company, properly qualified in this state to write accident or health or disability insurance, from making available any plan of vision service that may be approved by the commissioner under existing statutes or within the authority granted to benevolent associations.
§ 56-31-119. License Renewal — Agent’s Certificate of Authority
All licenses authorizing vision service plan corporations to transact business in this state shall be renewable on April 1 of each year, subject to the approval of the commissioner. The vision service plan corporations licensed to do business in this state under this chapter shall obtain from the commissioner a certificate of authority for every […]
§ 56-31-120. Orders of Commissioner — Publication of Regulations — Subscription Contracts — Rates
After the issuance of a certificate of authority, the commissioner shall be empowered to issue orders or to publish regulations necessary for the proper enforcement of this chapter that the commissioner deems to be in the public interest. The published regulations of the commissioner shall have the effect of statute, and shall include, in particular, […]
§ 56-31-111. Issuance of License — Prerequisites
The commissioner shall issue a license upon compliance with this chapter, and other proper requirements of the commissioner, and upon being satisfied that: All items required to be filed are in proper form, as required by this chapter, and meet the approval of the commissioner; The applicant is established as a bona fide vision service […]
§ 56-31-112. Investment of Funds
The funds of the vision service corporations subject to this chapter shall be invested only in securities permitted by the laws of this state for the investment of assets of life insurance companies.
§ 56-31-113. Expenses — Limitation
All acquisition and administrative expenses incurred in connection with the vision service corporation shall at all times be limited to a percentage of its total net premiums as set and approved by the commissioner.
§ 56-31-114. Purchase of Liability Insurance Authorized
A vision service plan corporation is authorized to purchase a contract of insurance protecting the corporation or any officer or employee of the corporation or any optometrist from liability for injuries resulting from negligence, misfeasance, malfeasance, nonfeasance or health care liability on the part of any officer or employee of the corporation, or on the […]
§ 56-31-115. Financial and Statistical Records
Every vision service plan corporation shall maintain adequate financial and statistical records in reasonable uniformity with accounting plans and statistical requirements of the annual statement blank required by the commissioner.
§ 56-31-116. Annual Statement — Form — Filing Fee
Every vision service plan corporation shall annually, on or before March 1, file in the office of the department a statement of its operations for the calendar year, showing financial conditions as of December 31, then next preceding, in such form and content as the commissioner prescribes, signed and sworn to by its president and […]
§ 56-31-117. Examination — Rehabilitation or Liquidation
The commissioner has the same authority to examine vision service plan corporations as is granted to the commissioner for the examination of life and accident and health insurance companies, and has the same authority for the correction, rehabilitation or liquidation of vision service plan corporations as is now provided by law for life and health […]