§ 27-20.1-11. Rehabilitation, liquidation, or conservation.
(a) Any rehabilitation, liquidations, administrative supervision or conservation of a nonprofit dental service corporation organized under this chapter shall be conducted under the supervision of the director of business regulation pursuant to chapters 14.1, 14.2, and 14.3 of this title. The director of business regulation may apply for an order from the superior court directing the director of business regulation to rehabilitate, liquidate, or conserve a nonprofit dental service corporation upon any one or more of the following grounds:
(1) That the nonprofit dental service corporation is insolvent; for the purposes of this section, the term “insolvent” means the inability of the nonprofit dental service corporation to meet its debts and financial obligations as they become due;
(2) That the nonprofit dental service corporation fails or refuses to comply with a lawful order of the director of business regulation reasonably designed to correct unsound business policies or practices which, if uncorrected, could reasonably lead to insolvency as defined in subdivision (1) of this subsection; or
(3) That the nonprofit dental service corporation’s financial condition is such as to render its further transaction of business hazardous to the public or its subscribers or members.
(b) A claim by a health care provider shall not be asserted against any subscriber or member of the nonprofit dental service corporation in the event of the rehabilitation, liquidation, conservation, or administrative supervision of the nonprofit dental service corporation.
History of Section.P.L. 1993, ch. 180, § 19.
Structure Rhode Island General Laws
Chapter 27-20.1 - Nonprofit Dental Service Corporations
Section 27-20.1-1. - Definitions.
Section 27-20.1-2. - Organization.
Section 27-20.1-3. - Contracts.
Section 27-20.1-4. - Annual and quarterly statements.
Section 27-20.1-5. - Examination of affairs of corporation.
Section 27-20.1-6. - Commission plans for solicitors or insurance producers.
Section 27-20.1-7. - Investment standards.
Section 27-20.1-8. - Corporation deemed public charitable institution.
Section 27-20.1-9. - Adoption of chapter by hospital service corporation.
Section 27-20.1-10. - Nonprofit dental service corporation assessment.
Section 27-20.1-11. - Rehabilitation, liquidation, or conservation.
Section 27-20.1-12. - Holding company systems.
Section 27-20.1-12.1. - No derogation of attorney general.
Section 27-20.1-13. - Regulations.
Section 27-20.1-14. - Reserves.
Section 27-20.1-15. - Drug coverage.
Section 27-20.1-16. - Magnetic resonance imaging — Quality assurance standards.
Section 27-20.1-17. - Termination of children’s benefits.
Section 27-20.1-18. - Dental insurance assignment of benefits.
Section 27-20.1-19. - Post-payment audits.
Section 27-20.1-20. - Plan change notices.