§36-7401. Stop-loss coverage – Minimum aggregate retention.
Any stop-loss insurance coverage issued by an insurer authorized to do business in this state that provides an aggregate retention benefit shall provide an aggregate retention of no less than one hundred ten percent (110%) of the expected claims. The Insurance Commissioner shall develop minimum disclosure standards that can be incorporated into a form that […]
§36-7402. Evaluation of effect of limits on opioid prescriptions and claims and out-of-pocket costs – Report.
The Insurance Department shall evaluate the effect of the limits on prescriptions for opioid drugs established by this act on the claims paid by health insurance carriers and the out-of-pocket costs including copayments, coinsurance and deductibles paid by individual and group health insurance policyholders. On or before January 1, 2021, the Insurance Department shall submit […]
§36-7129. Examination of wholesale costs.
The Insurance Commissioner may examine each organization so as to approve the determination by the organization of the wholesale costs made pursuant to Section 7126 of this title. The examination shall be conducted pursuant to Sections 309.1 through 309.7 of Title 36 of this title and the cost of the examination shall be paid by […]
§36-7130. Redeposit of improperly withdrawn monies.
In the event the Insurance Commissioner determines that monies have been improperly paid by the trustee to the organization during the period covered by the examination, the Commissioner shall order the organization to redeposit to the trust the monies improperly withdrawn within sixty (60) days. Added by Laws 1989, c. 297, § 26, eff. Nov. […]
§36-7131. Attorney General – Action to recover payments – Penalties.
A. The Insurance Commissioner, may, after notice and an opportunity for hearing, initiate an action to recover payments required to be redeposited to the cemetery merchandise trust pursuant to the Cemetery Merchandise Trust Act or to recover other monies received or disbursed in violation of the Cemetery Merchandise Trust Act. B. The Commissioner may, after […]
§36-7132. Execution, seizure, appropriation or application of certain funds prohibited.
In the absence of fraud, all funds held in a cemetery merchandise contract shall not be subject to attachment, garnishment or other legal process, or be seized, taken, appropriated or applied to pay any debt or liability of the organization, purchaser or beneficiary, by any legal or equitable process or by operation of law. Added […]
§36-7133. Failure to assist examination of records – Application for receivership.
Whenever any officer of any organization refuses to submit the books, records, papers and instruments of an organization to the examination and inspection of the assistants or examiners of the Insurance Commissioner, or refuses or neglects to establish or maintain a cemetery merchandise trust fund in accordance with the requirements of the Cemetery Merchandise Trust […]
§36-7134. Violations – Penalties.
Any organization, or its officers or directors, which violate any provision of the Cemetery Merchandise Trust Act shall, upon conviction, be deemed guilty of a misdemeanor and shall be subject to a fine of not less than One Hundred Dollars ($100.00) nor more than Two Thousand Five Hundred Dollars ($2,500.00). Added by Laws 1989, c. […]
§36-7135. State Insurance Commissioner Revolving Fund.
Upon the effective date of this act, all monies received by the State Banking Commissioner pursuant to the Cemetery Merchandise Trust Act and all monies deposited in the Cemetery Merchandise Trust Act Revolving Fund and any other monies as required by law shall be transferred to the State Treasury and deposited into the State Insurance […]
§36-7201. Definitions.
As used in this act: 1. “Access payments” means an amount paid to the Insurance Commissioner based upon a percentage of claims paid by a health carrier to be used to fund the state’s Medicaid program and make full use of any federal matching funds available to the state; 2. “Claims paid” means all payments […]