A. The superintendent shall adopt and promulgate rules to establish specific standards:

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(1)     that set the manner, content and required disclosure for the sale of short- term plans and excepted benefits plans, including standards for full and fair disclosure; and

(2)     for the sale of short-term plans and excepted benefits plans, which standards shall include standards relating to:

(a) terms of renewability or extension of coverage; (b) initial and subsequent conditions of eligibility; (c) nonduplication of coverage provisions;

(d) coverage of dependents; (e) preexisting conditions;

(f) termination of insurance; (g) probationary periods;

(h) limitations;

(i) exceptions;

(j) reductions and exclusions; (k) elimination periods;

(l) requirements for replacement by the health insurance carrier; (m) recurrent conditions;

(n) the definition of terms to describe the specific types of coverage sold pursuant to the Short-Term Health Plan and Excepted Benefit Act and specific standards and policy provisions required of these plans;

(o) benefit duration;

(p) scope of coverage;

(q) advertising and marketing; (r) sales practices;

(s) mandatory disclosures; (t) coverage suitability; and

(u) policy and certificate approval.

B. All advertisements, marketing materials and application and policy forms relating to short-term plans shall prominently display a notice that the coverage is unavailable to any potential insured who has been covered under a short-term plan in the previous twelve-month period.