§ 42-62-17 - Funds received from insurers or others. - Rhode Island Statutes

SECTION 42-62-17

   § 42-62-17  Funds received from insurers orothers. – (a) The director of health is authorized to expend from the health resourcesdevelopment fund any moneys that may be appropriated by the general assembly orreceived from insurers or other entities for the purposes of § 42-62-16.

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

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