§ 27-19.2-6. Actions requiring supermajority board approval.
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.
Structure Rhode Island General Laws
Chapter 27-19.2 - Nonprofit Hospital and Medical Service Corporations
Section 27-19.2-1. - Legislative findings.
Section 27-19.2-2. - Definitions.
Section 27-19.2-3. - Mission statement contents.
Section 27-19.2-4. - Board of directors — Duties and functions of the board of directors.
Section 27-19.2-5. - Composition of the board of directors.
Section 27-19.2-6. - Actions requiring supermajority board approval.
Section 27-19.2-7. - Compensation of board members.
Section 27-19.2-8. - Compensation of officers and executives.
Section 27-19.2-9. - Code of ethics.
Section 27-19.2-10. - Nonprofit hospital and/or medical service corporations — Responsibilities.