Neither a nonprofit hospital service corporation, nor an affiliate (as defined in 27-19.2-2) that is an insurer (as defined in § 27-20.6-1(1)), may take any of the following actions without the prior approval of at least two-thirds percent (66.67%) of the corporation’s entire board of directors: (1) Authorize a conversion as defined in 27-66-4; (2) Withdraw a health insurance product previously offered in the individual market; or (3) Result in the withdrawal from a geographic region.
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