2002 Florida Code
TITLE XXXVII INSURANCE
Chapter 641 HEALTH CARE SERVICE PROGRAMS  
PART II PREPAID HEALTH CLINICS (ss. 641.40-641.459)
641.407   Minimum surplus.

641.407  Minimum surplus.--

(1)  Each prepaid health clinic shall have and maintain minimum surplus in accordance with the following schedule: On January 1, 1996, $150,000 or 10 percent of total liabilities, whichever is greater.

(2)  In lieu of having any minimum surplus, the prepaid health clinic may provide a written guaranty to assure payment of covered subscriber claims if the guaranteeing organization has been in operation for at least 3 years and has a surplus, not including land, buildings, and equipment, equal to the product of 2 times the amount of the required statutory surplus. Such guaranteeing organization and such written guaranty must be acceptable to, and approved by, the department. The department shall consider the likelihood of the payment of subscriber claims in granting or withholding such approval.

History.--ss. 10, 11, ch. 84-313; s. 30, ch. 85-62; ss. 187, 188, ch. 91-108; s. 4, ch. 91-429; s. 56, ch. 93-148; s. 82, ch. 2000-158.