Neither a nonprofit hospital service corporation, nor an affiliate (as defined in § 27-19.2-2(a)) that is an insurer (as defined in § 27-20.6-1(1)), may take any of the following actions without the prior approval of at least two-thirds percent (66.67%) of the corporation's entire board of directors:
(1) Authorize a conversion as defined in § 27-66-4(3);
(2) Withdraw a health insurance product previously offered in the individual market; or
(3) Result in the withdrawal from a geographic region.
History of Section.
P.L. 2004, ch. 330, § 2; P.L. 2004, ch. 567, § 2; P.L. 2008, ch. 475, § 84.