§ 27-34.2-8 - Discretionary powers of director.
SECTION 27-34.2-8
§ 27-34.2-8 Discretionary powers ofdirector. – The director may upon written request issue an order to modify or suspend aspecific provision or provisions of regulations adopted pursuant to thischapter, and may upon written request permit the use of waivers or riders, withrespect to a specific long term care insurance policy or certificate upon awritten finding that:
(1) The modification or suspension would be in the bestinterest of the insureds;
(2) The purposes to be achieved could not be effectively orefficiently achieved without the modification or suspension; and
(3) The modification or suspension is necessary to thedevelopment of an innovative and reasonable approach for insuring long termcare;
(ii) The policy or certificate is to be issued to residentsof a life care or continuing care retirement community or some otherresidential community for the elderly and the modification or suspension isreasonably related to the special needs or nature of the community; or
(iii) The modification or suspension is necessary to permitlong term care insurance to be sold as part of, or in conjunction with, anotherinsurance product.