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Florida Statutes Title XXXVII. Insurance § 641.255. Acquisition, merger, or consolidation

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Every acquisition of a health maintenance organization shall be subject to the provisions of s. 628.4615. However, in the case of a health maintenance organization organized as a for-profit corporation, the provisions of s. 628.451 govern with respect to any merger or consolidation; and, in the case of a health maintenance organization organized as a not-for-profit corporation, the provisions of s. 628.471 govern with respect to any merger or consolidation.

(2) In addition to the requirements set forth in ss. 628.451, 628.4615, and 628.471, each party to any transaction involving any licensee which, as indicated in its most recent quarterly or annual statement, derives income from Medicaid funds shall in the filing made with the office identify:

(a) Any person who has received any payment from either party or any person on that party's behalf; or

(b) The existence of any agreement entered into by either party or by any person on that party's behalf to pay a consultant fee, a broker fee, a commission, or other fee or charge,

which in any way relates to the acquisition, merger, or consolidation. The commission may adopt a form to be made part of the application which is to be sworn to by an officer of the entity which made or will make the payment. The form shall include the name of the person or entity paying the fee; the name of the person or entity receiving the fee; the date of payment; and a brief description of the work performed.

(3) A health maintenance organization that is a member of a holding company system is subject to s. 628.461 but not s. 628.4615.

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Cite this article: FindLaw.com - Florida Statutes Title XXXVII. Insurance § 641.255. Acquisition, merger, or consolidation - last updated January 01, 2025 | https://codes.findlaw.com/fl/title-xxxvii-insurance/fl-st-sect-641-255/

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