LD 1698
pg. 17
Page 16 of 22 PUBLIC Law Chapter 680 Page 18 of 22
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LR 2485
Item 1

 
the insurer or 3rd-party filer whose filing was disapproved may
appeal the determination to a review panel appointed by the
commission.__The commission shall promulgate rules to establish
procedures for appointing a review panel and provide for notice and
hearing.__An allegation that the commission, in disapproving a
product or advertisement filed with the commission, acted
arbitrarily, capriciously or in a manner that is an abuse of
discretion or otherwise not in accordance with the law is subject
to judicial review in accordance with section 2474, subsection 5.

 
2.__Commission may monitor, review and reconsider.__The
commission has authority to monitor, review and reconsider
products and advertisements subsequent to their filing or
approval upon a finding that the product does not meet the
relevant uniform standard.__Where appropriate, the commission may
withdraw or modify its approval after proper notice and hearing,
subject to the appeal process in subsection 1.

 
§2483.__Finance -- Article 12

 
1.__Commission shall fund its establishment and organization.__
The commission shall pay or provide for the payment of the
reasonable expenses of its establishment and organization.__To
fund the cost of its initial operations, the commission may
accept contributions and other forms of funding from the National
Association of Insurance Commissioners, compacting states and
other sources.__Contributions and other forms of funding from
other sources must be of such a nature that the independence of
the commission concerning the performance of its duties is not
compromised.

 
2.__Commission shall collect filing fee.__The commission shall
collect a filing fee from each insurer and 3rd-party filer filing
a product with the commission to cover the cost of the operations
and activities of the commission and its staff in a total amount
sufficient to cover the commission's annual budget.

 
3.__Notice and comment for budget approval.__The commission's
budget for a fiscal year may not be approved until it has been
subject to notice and comment as set forth in section 2478.

 
4.__Commission exempt from taxation.__The commission is exempt
from all taxation in and by the compacting states.

 
5.__Commission authority to pledge credit of compacting state
limited.__The commission may not pledge the credit of any
compacting state, except by and with the appropriate legal
authority of that compacting state.


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