§ 27-74-13 — § 27-74-13. Annual reports.

Rhode Island § 27-74-13

• Jurisdiction: Rhode Island
• Title 27: Insurance
• Ch. 27-74: Discount Medical Plan Organization Act

Text

§ 27-74-13. Annual reports.

(a) If the information required in subsection (b) of this section is not provided at the time of renewal of a certificate of registration under § 27-74-5, a discount medical plan organization shall file an annual report with the commissioner in the form prescribed by the commissioner, within three (3) months after the end of each fiscal year.

(b) The report shall include:

(1) If different from the initial application for a certificate of registration or at the time of renewal of a certificate of registration or the last annual report, as appropriate, a list of the names and residence addresses of all persons responsible for the conduct of the organization's affairs, together with a disclosure of the extent and nature of any contracts or arrangements with these persons and the discount medical plan organization, including any possible conflicts of interest;

(2) The number of discount medical plan members in the state; and

(3) Any other information relating to the performance of the discount medical plan organization that may be required by the commissioner.

(c) Any discount medical plan organization that fails to file an annual report in the form and within the time required by this section shall:

(1) Forfeit:

(i) Up to five hundred dollars ($500) each day for the first ten (10) days during which the violation continues; and

(ii) Up to one thousand dollars ($1,000) each day after the first ten (10) days during which the violation continues; and

(2) Upon notice by the commissioner, lose its authority to enroll new members or to do business in this state while the violation continues.

Legislative History

P.L. 2010, ch. 156, § 1; P.L. 2010, ch. 158, § 1; P.L. 2021, ch. 395, § 7, effective July 14, 2021.