2016 Kentucky Revised Statutes CHAPTER 304 - INSURANCE CODE Subtitle 38A - Limited Health Service Organizations 304.38A-110 Conversion of single service organization -- Net worth and capital requirements.
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304.38A-110 Conversion of single service organization -- Net worth and capital
requirements.
(1)
(2)
A person issued a single service organization certificate of authority in accordance
with KRS 304.38-065 and holding the certificate of authority on July 15, 2002, shall
be converted to a limited health service organization as defined in KRS 304.38A010. At the next renewal of the certificate of authority, the person shall be issued a
certificate of authority to act as a limited health service organization if it meets the
requirements for continuance of the certificate of authority. No certificate of
authority to act as a single service organization shall be issued or renewed after July
15, 2002.
A single service organization holding a certificate of authority immediately prior to
July 15, 2002, that is converted to a limited health service organization according to
subsection (1) of this section shall continue to be required to meet the minimum net
worth requirement of one hundred twenty-five thousand dollars ($125,000) and
shall comply with the risk-based capital requirements for health organizations in
administrative regulations promulgated by the commissioner for health maintenance
organizations and other health organizations.
Effective: July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 1524, effective July 15, 2010. -- Created
2002 Ky. Acts ch. 105, sec. 20, effective July 15, 2002.
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