§ 56-5-121 — Interchange of data for rating plans - Cooperative activities

(a) Reasonable rules and plans may be promulgated by the commissioner for the interchange of data necessary for the application of rating plans. (b) In order to further conform administration of rate regulatory laws, the commissioner and every insurer and the advisory organization designated by the commissioner may exchange information and experience data with insurance supervisory officials, insurers and advisory organizations in other states and may consult with them with respect to rate making and the application of rating systems. (c) Cooperation among advisory organizations, or among advisory organizations and insurers in rate making or in other matters within the scope of this chapter is authorized, but the filings resulting from the cooperation are subject to this chapter. The commissioner, with the assistance of the attorney general and reporter, may review the cooperative activities and practices. If after a hearing the activity or practice is found to violate this chapter, the commissioner may issue a written order specifying that the activity or practice violates this chapter and requiring the discontinuance of the activity.

Legislative History

Acts 1996, ch. 944, § 41.