Section 304.38A-080 - Net worth - Deposit - Risk-based capital requirements(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.Effective:7/15/2010
Amended 2010, Ky. Acts ch. 24, sec. 1521, effective7/15/2010. -- Created 2002, Ky. Acts ch. 105, sec. 17, effective 7/15/2002.