Professional association plan defined.
For purposes of §§ 58-17-66 to 58-17-87, inclusive, the term, professional association plan, means a health benefit plan offered through a professional association that covers members of a professional association and their dependents, and not others, in this state regardless of the situs of delivery of the policy or contract and which meets all the following criteria:
(1) Conforms with all the provisions of the rate requirements of §§ 58-17-66 to 58-17-87, inclusive;
(2) Provides renewability of coverage for the members and dependents of members of the professional association that meets the renewability requirements of §§ 58-17-66 to 58-17-87, inclusive;
(3) Provides availability of coverage for the members and dependents of members of the professional association without regard to health status; and
(4) Is offered by a carrier that offers health benefit plan coverage to any professional association seeking health benefit plan coverage from the carrier.