1. (a) If an insurer intends to establish a procedure or procedures under which existing long-term care insurance policies may be exchanged for PQLTC policies, the insurer shall file with the Insurance Commissioner the details of such procedures for approval.
2. (b) The commissioner shall disapprove such procedures that are unfairly discriminatory or violate PQLTC partnership rules established by the State Medicaid Director.
3. (c) No exchanges are permitted without prior approval by the commissioner of such procedures.

Codification Notes: “PQLTC” means partnership-qualified long-term care.