2006 Kentucky Revised Statutes - .073   Deposit of cash or securities for performance of obligations to enrollees.

304.38-073 Deposit of cash or securities for performance of obligations to enrollees. Each health maintenance organization shall furnish to the executive director a deposit of cash or securities approved by the executive director in an amount not less than five hundred thousand dollars ($500,000) so that the obligations to the enrollees shall be performed. A health maintenance organization may be required to furnish an additional deposit if the executive director determines, after a hearing, that an additional deposit is necessary for the protection of the health maintenance organization's enrollees. Effective: July 15, 2002 History:Amended 2002 Ky. Acts ch. 105, sec. 25, effective July 15, 2002. -- Amended 2000 Ky. Acts ch. 427, sec. 14, effective July 14, 2000. -- Created 1996 Ky. Acts ch. 286, sec. 2, effective July 15, 1996. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section. Page 1 of 1