304.32-130 Schedule of dues.
The commissioner shall not issue or renew a certificate of authority to any corporation <br>operating or proposing to operate a nonprofit hospital, medical-surgical, dental, or other <br>health service plan unless: <br>(1) The subscription or membership certificates which the corporation offers to its
subscribers or members, together with a schedule of the dues and fees to be paid by <br>subscribers or members, or the formula for developing dues or fees, has been filed <br>with the commissioner in accordance with the provisions of KRS 304.32-160.
(2) The schedule of the dues and fees to be paid by subscribers or members is one
which will enable the corporation to meet the expenses of the hospital, medical-<br>surgical, and other health services which are made available to its subscribers or <br>members without impairing the guarantee fund required by KRS 304.32-140, and <br>one which will not result in an accumulation of excess reserves over and above <br>reserves established for claims in process, unreported and unbilled claims, <br>retroactive cost adjustment to the purveyors of hospital, medical-surgical, and other <br>health services and membership dues or fees received in advance but not yet earned. <br>So long as a corporation's unencumbered reserve or surplus over and above the <br>required reserves specified in this section do not exceed a sum equal to one-half <br>(1/2) of the corporation's total membership dues or subscription fees received <br>during the immediate preceding calendar year, the unencumbered reserve or surplus <br>shall not be deemed an excessive accumulation for the purposes of this section.
Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 1418, effective July 15, 2010. -- Created
1970 Ky. Acts ch. 301, subtit. 32, sec. 13, effective June 18, 1970.
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