§ 27-19-5.3. Additional powers.

Notwithstanding any other law or section of this chapter that may be inconsistent with this section, each nonprofit hospital service corporation may, through a subsidiary, develop, underwrite, and/or offer for sale life insurance, disability insurance, long-term care insurance, employee assistance programs, and/or other health-related programs; provided, however, prior to underwriting risk under policies of insurance listed above, the nonprofit hospital service corporation must first demonstrate that underwriting such risk is consistent with the statutory mission of the nonprofit hospital service corporation and obtain prior written approval from the health insurance commissioner. Each nonprofit hospital service corporation may also directly, or by contracting with another entity, develop and/or offer for sale the policies or programs described in this section. However, the nonprofit hospital service corporation shall not directly underwrite any risk under a policy of insurance described in this section.