(a)  The director of health is authorized to expend from the health resources development fund any moneys that may be appropriated by the general assembly or received from insurers or other entities for the purposes of § 42-62-16.

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(b)  Notwithstanding any provision of their articles of incorporation, by-laws, or other enabling documents or laws to the contrary, an insurer is authorized to allocate sums of money, derived from the collections of premiums, to the health resources development fund.

(c)  Notwithstanding any provision of their articles of incorporation, by-laws, or other enabling documents or law to the contrary, an insurer is further authorized to expend on an annual basis a sum of moneys equal to not more than five percent (5%) of its previous year’s premium income for a project approved by the director of health, with the concurrence of the director of business regulation. The director of health is authorized to approve projects which are in conformance with the purposes of § 42-62-16 and with the criteria further established pursuant to § 42-62-16.