§ 56-40-101. Annual Registration — Exclusion of Catastrophic Loss
Each plan that purchases a contract of insurance that provides for indemnification of claims made by plan participants, except in the event of a catastrophic loss, shall register annually with the department of commerce and insurance, in the manner and on forms prescribed by the department. “Catastrophic loss,” as used in this section, means any […]
§ 56-40-102. Registration Requirements
The registration requirements of this chapter include, but are not limited to: The employer’s name and insurance federal employer identification number; The total number of employees covered by the employee welfare benefit plan; The size of the insurance reserve fund under the plan; An attached copy of insurance benefits provided to employees and their dependents […]
§ 56-40-103. Accuracy of Information
The information registered and reported in accordance with § 56-40-102 shall be accurate as of the date of registration.
§ 56-40-104. Violations — Penalties
Any plan that violates this chapter shall be subject to a fine and/or a civil penalty of not less than one hundred dollars ($100) nor more than one thousand dollars ($1,000) for each violation. Each year that a plan fails to register in accordance with this chapter constitutes a separate violation.
§ 56-40-105. Rules and Regulations
The department shall promulgate necessary and appropriate rules and regulations pursuant to the Uniform Administrative Procedures Act, compiled in title 4, chapter 5, to implement the effect and intent of this chapter.