Section 27-14.1-10. – Immunity.
§ 27-14.1-10. Immunity. There shall be no liability on the part of, and no cause or action of any nature shall arise against, the insurance commissioner or the department of business regulation or its employees or agents for any action taken by them in the performance of their powers and duties under this chapter. History […]
Section 27-14.1-9. – Other laws — Conflicts — Meetings between the commissioner and the supervisor.
§ 27-14.1-9. Other laws — Conflicts — Meetings between the commissioner and the supervisor. Notwithstanding any other provision of law, the commissioner may meet with a supervisor appointed under this chapter and with the attorney or other representative of the supervisor, without the presence of any other person, at the time of any proceeding or […]
Section 27-14.1-1. – Definitions.
§ 27-14.1-1. Definitions. As used in this chapter: (1) “Consent” means agreement to administrative supervision by the insurer; (2) “Exceeded its powers” means the following conditions: (i) The insurer has refused to permit examination of its books, papers, accounts, records, or affairs by the commissioner, his or her deputies, employees or duly commissioned examiners; (ii) […]
Section 27-14.1-2. – Applicability.
§ 27-14.1-2. Applicability. The provisions of this chapter apply to: (1) All domestic insurers, including a protected cell company organized under the Protected Cell Companies Act, chapter 64 of this title, and any of its protected cells established pursuant to that chapter, to the extent not inconsistent with the provisions of that chapter; and (2) […]
Section 27-14.1-3. – Notice to comply with written requirements of commissioner — Noncompliance — Administrative supervision.
§ 27-14.1-3. Notice to comply with written requirements of commissioner — Noncompliance — Administrative supervision. (a) An insurer may be subject to administrative supervision by the commissioner if upon examination or at any other time it appears in the commissioner’s discretion that: (1) The insurer’s condition renders the continuance of its business hazardous to the […]
Section 27-14.1-4. – Confidentiality of certain proceedings and records.
§ 27-14.1-4. Confidentiality of certain proceedings and records. (a) Notwithstanding any other provision of law and except as set forth in this section, proceedings, hearings, notices, correspondence, reports, records, and other information in the possession of the commissioner or the department of business regulation relating to the supervision of any insurer are confidential except as […]
Section 27-14.1-5. – Prohibited acts during period of supervision.
§ 27-14.1-5. Prohibited acts during period of supervision. During the period of supervision, the commissioner or his or her designated appointee shall serve as the administrative supervisor. The commissioner may provide that the insurer may not do any of the following acts during the period of supervision without the prior approval of the commissioner or […]
Section 27-14.1-6. – Review and stay of action.
§ 27-14.1-6. Review and stay of action. During the period of supervision the insurer may contest an action taken or proposed to be taken by the supervisor specifying the manner in which the action being complained of would not result in improving the condition of the insurer. Denial of the insurer’s request upon reconsideration entitles […]
Section 27-14.1-7. – Administrative election of proceedings.
§ 27-14.1-7. Administrative election of proceedings. Nothing contained in this chapter shall preclude the commissioner from initiating judicial proceedings to place an insurer in conservation, rehabilitation, or liquidation proceedings or other delinquency proceedings, however designated under the laws of this state, regardless of whether the commissioner has previously initiated administrative supervision proceedings under this chapter […]
Section 27-14.1-8. – Rules.
§ 27-14.1-8. Rules. The commissioner is empowered to adopt reasonable rules necessary for the implementation of this chapter. History of Section.P.L. 1991, ch. 348, § 1.