2013 New Jersey Revised Statutes
Title 17 - CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Section 17:48C-5 - Standards in reviewing application
17:48C-5. Standards in reviewing application
In reviewing any application for authority to operate under this act, the commissioner shall be guided by the following standards:
(a) It shall be shown that the initial working funds are adequate. No certificate of authority shall be issued to any applicant therefore except on receipt of evidence by the commissioner that such applicant is in possession of unencumbered funds of not less than $25,000.00 and that such amount is held in cash or in bank to its credit. From and after the issuance of a certificate of authority to an applicant, the corporation shall maintain such amount as a general surplus over and above its reserves, liabilities, and special contingent surplus.
(b) It shall be shown that the applicant has enlisted a sufficient number of participating dentists, with skills in appropriate fields and accessible to subscribers, to indicate ability to render the intended dental service. In carrying out the intent of this section the commissioner shall determine that at least 100 dentists have agreed to participate.
(c) It shall be shown that the applicant will accept as a participating dentist any dentist authorized to practice dentistry in the jurisdiction where his services are to be rendered, and who is ready, available and willing to render dental service to be provided under a contract or contracts.
L.1968, c. 305, s. 5, eff. Sept. 26, 1968.
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