§ 27-9-10 - Waiting period – Effective date of filings.
SECTION 27-9-10
§ 27-9-10 Waiting period – Effectivedate of filings. – Subject to the exception specified in § 27-9-9, each filing shall be onfile for a waiting period of thirty (30) days before it becomes effective,which period may be extended by the commissioner for an additional period notto exceed thirty (30) days if the commissioner gives written notice within thatwaiting period to the insurer or rating organization which made the filing thathe or she needs that additional time for the consideration of the filing. Uponwritten application by the insurer or rating organization, the commissioner mayauthorize a filing that the commissioner has reviewed to become effectivebefore the expiration of the waiting period or any extension of it. A filingshall be deemed to meet the requirements of this chapter and to becomeeffective unless disapproved as provided in this chapter by the commissionerwithin the waiting period or any extension of it; provided, that if thecommissioner gives written notice to the insurer or rating organization withinthe waiting period or any extension that he or she will hold a hearing on thefiling, the filing shall not become effective before or until the commissionerissues his or her decision. Upon giving that notice the commissioner shall alsogive public notice of the hearing by causing a notice to be published in anewspaper of general circulation in the state at least ten (10) days prior tothe hearing stating the name of the insurer or rating organization which hasmade the filing and including a general description of the subject matter andsending a copy of that notice to the consumer protection unit of the departmentof attorney general. The commissioner shall hold a hearing on major filings.The hearing shall be held and a decision issued by the commissioner as soon asreasonably possible.