§ 58-65-135. Cost plus plans.
§58‑65‑135. Cost plus plans.
Any corporation organizedunder the provisions of this Article and Article 66 of this Chapter shall beauthorized as agent of any other corporation, firm, group, partnership, orassociation, or any subsidiary or subsidiaries thereof, municipal corporation,State, federal government, or any agency thereof, to administer on behalf ofsuch corporation, firm, group, partnership, or association, or any subsidiaryor subsidiaries thereof, municipal corporation, State, federal government, orany agency thereof, any group hospitalization or medical and/or dental serviceplan, promulgated by such corporation, firm, group, partnership, orassociation, or any subsidiary or subsidiaries thereof, municipal corporation,State, federal government, or any agency thereof, on a cost plus administrativeexpense basis, provided said other corporation, firm, group, partnership, orassociation, or any subsidiary or subsidiaries thereof, municipal corporation,State, federal government, or any agency thereof shall have had an activeexistence for at least one year preceding the establishment of such plan, andwas formed for purposes other than procuring such group hospitalization and/ormedical and/or dental service coverage in a cost plus administrative expensebasis, and provided only that administrative costs of such a cost plus planadministered by a corporation organized under the provisions of this Articleand Article 66 of this Chapter, acting as an agent as herein provided, shallnot exceed the remuneration received therefor, and provided further that thecorporation organized under this Article and Article 66 of this Chapteradministering such a plan shall have no liability to the subscribers or to thehospitals for the success or failure, liquidation or dissolution of such grouphospitalization or medical and/or dental service plan and provided further,that nothing herein contained shall be construed to require of saidcorporation, firm, group, partnership, or association, or any subsidiary or subsidiariesthereof, municipal corporation, State, federal government, or any agencythereof, conformity to the provisions of this Article and Article 66 of thisChapter if such group hospitalization is administered by a corporationorganized under this Article and Article 66 of this Chapter, on a cost plusexpense basis. The administration of any cost plus plans as herein providedshall not be subject to regulation or supervision by the Commissioner ofInsurance. (1941, c. 338, s. 16; 1943, c. 537, s. 9; 1947, c.820, s. 7; 1961, c. 1149.)