§ 27-4.7-1 Short title
§ 27-4.7-2 Definitions
§ 27-4.7-3 RBC reports
§ 27-4.7-4 Company action level event
§ 27-4.7-5 Regulatory action level event
§ 27-4.7-6 Authorized control level event
§ 27-4.7-7 Mandatory control level event
§ 27-4.7-8 Hearings
§ 27-4.7-9 Confidentiality – Prohibition on announcements – Prohibition on use in ratemaking
§ 27-4.7-10 Supplemental provisions – Rules – Exemption
§ 27-4.7-11 Foreign health organizations
§ 27-4.7-12 Immunity
§ 27-4.7-13 Severability
§ 27-4.7-14 Notices
§ 27-4.7-16 Prior notification of discontinuance of health insurance coverage
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Terms Used In Rhode Island General Laws > Chapter 27-4.7 - Risk-Based Capital (RBC) for Health Organizations Act

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Corrective order: means an order issued by the commissioner specifying corrective actions which the commissioner has determined are required;

    (3)  "Commissioner" means the director of the department of business regulation;

    (4)  "Domestic health organization" means a health organization domiciled in this state;

    (5)  "Foreign health organization" means a health organization that is licensed or authorized to do business in this state pursuant to this title but is not domiciled in this state;

    (6)  "NAIC" means the National Association of Insurance Commissioners;

    (7)  "Health organization" means a health maintenance organization, limited health service organization, dental or vision plan, hospital, medical, and dental indemnity or service corporation or other managed care organization or any other entity providing a plan of health insurance, health benefits, or health services subject to this title. See Rhode Island General Laws 27-4.7-2

  • in writing: include printing, engraving, lithographing, and photo-lithographing, and all other representations of words in letters of the usual form. See Rhode Island General Laws 43-3-16
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • person: may be construed to extend to and include co-partnerships and bodies corporate and politic. See Rhode Island General Laws 43-3-6
  • RBC: means risk-based capital;

    (9)  "RBC instructions" means the RBC report, including risk-based capital instructions adopted by the NAIC, as these RBC instructions may be amended by the NAIC in accordance with the procedures adopted by the NAIC;

    (10)  "RBC level" means a health organization's company action level RBC, regulatory action level RBC, authorized control level RBC, or mandatory control level RBC where:

    (i)  "Company action level RBC" means, with respect to any health organization, the product of two (2. See Rhode Island General Laws 27-4.7-2

  • RBC plan: means a comprehensive financial plan containing the elements specified in Rhode Island General Laws 27-4.7-2
  • RBC report: means the report required in Rhode Island General Laws 27-4.7-2
  • Statute: A law passed by a legislature.
  • Subpoena: A command to a witness to appear and give testimony.
  • Total adjusted capital: means the sum of:

    (i)  A health organization's statutory capital and surplus (i. See Rhode Island General Laws 27-4.7-2