Section 695D.153 - Capital account: Minimum amount; requirements1. Each organization for dental care which receives a certificate of authority shall maintain a capital account with a net worth of not less than $500,000 unless a lesser amount is permitted in writing by the Commissioner.2. An organization for dental care which has been issued a certificate of authority pursuant to this chapter shall maintain a capital account with a net worth in an amount which is not less than the greater of: (a) The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to 681B.550; or(b) The following applicable amount, according to the number of members in the organization: Number of members Net worth
Less than 2,500............................................................................................... $50,000
At least 2,500 but not more than 5,000......................................................... 75,000
More than 5,000.............................................................................................. 125,000
3. The account must not be obligated for any accrued liabilities and must consist of cash, securities or a combination thereof which is acceptable to the Commissioner.Added to NRS by 2017, 2397; A 2019, 1720Added by 2019, Ch. 295,§58, eff. 10/1/2019.Added by 2017, Ch. 376,§153, eff. 1/1/2018.