514B.16 - PROTECTION AGAINST INSOLVENCY.
514B.16 PROTECTION AGAINST INSOLVENCY. A health maintenance organization shall furnish a surety bond in an amount satisfactory to the commissioner, or deposit with the commissioner cash or securities acceptable to the commissioner in at least the same amount, as a guarantee that its obligations to enrollees will be performed. The commissioner may waive this requirement when satisfied that the assets of the organization or its contracts with other organizations are sufficient to reasonably assure the performance of its obligations.
Section History: Early Form [C75, 77, 79, 81, § 514B.16] Referred to in § 514B.5