§ 27-4-24.1 - Waiting period – Effective date of filings. - Rhode Island Statutes

SECTION 27-4-24.1

   § 27-4-24.1  Waiting period –Effective date of filings. – (a) Each filing shall be on file for a waiting period of thirty (30) daysbefore it becomes effective, which period may be extended by the commissionerfor an additional period not to exceed thirty (30) days if the commissionergives written notice within the waiting period to the insurer or organizationwhich made the filing that he or she needs additional time for theconsideration of the filing. Upon written application by the insurer ororganization, the commissioner may authorize a filing that he or she hasreviewed to become effective before the expiration of the waiting period or anyextension. A filing shall be deemed to meet the requirements of this chapterand to become effective unless disapproved by the commissioner, as provided inthis chapter, within the waiting period or any extension.

   (b) Section (a) above does not apply to filings made throughthe Interstate Insurance Product Commission pursuant to chapter 2.5 of thistitle.