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Current as of January 01, 2024 | Updated by Findlaw Staff
Before the director issues a certificate of authority in accordance with § 27-41-4 of this act, an applicant seeking to establish or operate a health maintenance organization shall have the greater of:
(1) The amount of capital required for a health organization under chapter 4.7 of this title;
(2) An initial net worth of three million dollars ($3,000,000); or
(3) At the commissioner's discretion, an amount greater than required under subsection (1) or (2), as indicated by a business plan and a projected risk-based capital calculation after the first full year of operation based on the most current National Association of Insurance Commissioners Health Annual Statements Blank.
Cite this article: FindLaw.com - Rhode Island General Laws Title 27. Insurance § 27-41-13.1. Initial net worth and capital requirements - last updated January 01, 2024 | https://codes.findlaw.com/ri/title-27-insurance/ri-gen-laws-sect-27-41-13-1/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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