LD 1698
pg. 5
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LR 2485
Item 1

 
2.__Uniform standards.__To exercise its rule-making authority
and establish reasonable uniform standards for products and
advertisements, which have the force of law and are binding in
the compacting states, but only for those products filed with the
commission.__A compacting state has the right to opt out of the
uniform standard pursuant to section 2478 to the extent and in
the manner provided in the compact.__A uniform standard
established by the commission for long-term care insurance
products may provide either the same or greater protections for
consumers as, but may not provide less than, those protections
set forth in the National Association of Insurance Commissioners'
Long-term Care Insurance Model Act and Long-term Care Insurance
Model Regulation, adopted by the National Association of
Insurance Commissioners as of 2001. The commission shall consider
whether any subsequent amendments to the National Association of
Insurance Commissioners' Long-term Care Insurance Model Act or
Long-term Care Insurance Model Regulation adopted as of 2001 by
the National Association of Insurance Commissioners require the
amendment of the uniform standards established by the commission
for long-term care insurance products;

 
3.__Products; receive and review.__To receive and review in an
expeditious manner products filed with the commission and rate
filings for disability income and long-term care insurance
products and to give approval of those products and rate filings
that satisfy the applicable uniform standard.__Approval by the
commission has the force of law and is binding on the compacting
states to the extent and in the manner provided in the compact;

 
4.__Advertisements.__To receive and review in an expeditious
manner advertisements relating to long-term care insurance
products for which uniform standards have been adopted by the
commission and give approval to all advertisements that satisfy
the applicable uniform standard.__For any product covered under
the compact, other than long-term care insurance products, the
commission has the authority to require an insurer to submit all
or any part of its advertisement with respect to that product for
review or approval prior to use, if the commission determines
that the nature of the product is such that an advertisement of
the product could mislead the public.__The actions of commission
as provided in this section have the force of law and are binding
in the compacting states to the extent and in the manner provided
in the compact;

 
5.__Self-certification process.__To exercise its rule-making
authority and designate products and advertisements that may be
subject to a self-certification process without the need for
prior approval by the commission;


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