(a) As used in this Code section, the term “exchange” shall have the same meaning provided for in paragraph (1) of Code Section 33-23-201.

(b) The Commissioner of Insurance shall have the authority to:

(1) Establish any program; promulgate any rule, policy, guideline, or plan; or change any program, rule, policy, or guideline to implement, establish, create, administer, or otherwise operate an exchange;

(2) Apply for, accept, or expend federal moneys related to the creation, implementation, or operation of an exchange; and

(3) Establish any advisory board or committee the Commissioner deems necessary for providing recommendations on the creation, implementation, or operation of an exchange.