§ 27-71-9 - Market conduct surveillance personnel. - Rhode Island Statutes

SECTION 27-71-9

   § 27-71-9  Market conduct surveillancepersonnel. – (a) Market conduct surveillance personnel shall be qualified by education,experience and, where applicable, professional designations. The commissionermay supplement the in-house market conduct surveillance staff with qualifiedoutside professional assistance if he or she determines that such assistance isnecessary.

   (b) Market conduct surveillance personnel have a conflict ofinterest, either directly or indirectly, if they are affiliated with themanagement, have been employed by, or own a pecuniary interest in the insurersubject to any examination under this chapter within the most recent five (5)years prior to the use of the personnel. This section shall not be construed toautomatically preclude an individual from being:

   (1) A policyholder or claimant under an insurance policy;

   (2) A grantee of a mortgage or similar instrument on theindividual's residence from a regulated entity if done under customary termsand in the ordinary course of business;

   (3) An investment owner in shares of regulated diversifiedinvestment companies; or

   (4) A settlor or beneficiary of a "blind trust" into whichany otherwise permissible holdings have been placed.