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Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.38A-080.Net worth; deposit; risk-based capital requirements

Current as of January 01, 2024 | Updated by FindLaw Staff

(1) Each limited health service organization shall at all times have and maintain a net worth of not less than one hundred twenty-five thousand dollars ($125,000).

(2) (a) Each limited health service organization shall deposit with the commissioner or with any organization or trustee acceptable to the commissioner through which a custodial or controlled account is utilized, cash, securities, or any combination of these or other measures that is acceptable to the commissioner in an amount equal to fifty thousand dollars ($50,000).

(b) The deposit shall be an admitted asset.

(3) A limited health service organization shall at all times 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.

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Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXV. Business and Financial Institutions § 304.38A-080.Net worth; deposit; risk-based capital requirements - last updated January 01, 2024 | https://codes.findlaw.com/ky/title-xxv-business-and-financial-institutions/ky-rev-st-sect-304-38a-080/

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