§ 27-19.2-6 - Actions requiring supermajority board approval. - Rhode-island Statutes

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SECTION 27-19.2-6

§ 27-19.2-6 Actions requiringsupermajority board approval. – Neither a nonprofit hospital service corporation, nor an affiliate (as definedin § 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 leasttwo-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 inthe individual market; or

(3) Result in the withdrawal from a geographic region.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-19-2 > 27-19-2-6

SECTION 27-19.2-6

§ 27-19.2-6 Actions requiringsupermajority board approval. – Neither a nonprofit hospital service corporation, nor an affiliate (as definedin § 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 leasttwo-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 inthe individual market; or

(3) Result in the withdrawal from a geographic region.

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-19-2 > 27-19-2-6

SECTION 27-19.2-6

§ 27-19.2-6 Actions requiringsupermajority board approval. – Neither a nonprofit hospital service corporation, nor an affiliate (as definedin § 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 leasttwo-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 inthe individual market; or

(3) Result in the withdrawal from a geographic region.