Section 27-20.1-5. – Examination of affairs of corporation.
§ 27-20.1-5. Examination of affairs of corporation. It is the duty of the director of business regulation at least every five (5) years to make an examination of the financial condition and methods of doing business of every nonprofit dental service corporation. The examination shall be performed, and the associated costs shall be borne by […]
Section 27-20.1-6. – Commission plans for solicitors or insurance producers.
§ 27-20.1-6. Commission plans for solicitors or insurance producers. No person shall be engaged to solicit subscribers to any nonprofit dental service plan upon a commission basis or upon any other basis by which the payment of the compensation or expenses of that person shall be conditioned upon the enrollment of subscribers, unless the method […]
Section 27-20.1-7. – Investment standards.
§ 27-20.1-7. Investment standards. (a) All nonprofit dental service corporations shall protect the interests of subscribers by promoting company solvency and financial strength through the application of investment standards that facilitate a reasonable balance of the following objectives: (1) To preserve principal; (2) To assure reasonable diversification as to type of investment, issuer and credit […]
Section 27-20.1-8. – Corporation deemed public charitable institution.
§ 27-20.1-8. Corporation deemed public charitable institution. Every nonprofit dental service corporation is declared to be, and shall be deemed to be, a charitable institution and shall be subject to the provisions of chapter 6 of title 7, except as otherwise expressly provided in this chapter, and to this chapter. History of Section.P.L. 1959, ch. […]