Delaware § 6305 - Issuance of certificate of authority.

§ 6305. Issuance of certificate of authority.

The Commissioner shall issue a certificate of authority to the applicant when it is shown to the Commissioner’s satisfaction that:

(1) The applicant is established as a bona fide nonprofit health service corporation;

(2) Arrangements have been made by the applicant reasonably to assure provision of the services covered by its contracts and riders;

(3) The amounts provided as working capital of the corporation are repayable, without interest, only out of operating revenues;

(4) The amount of money actually available for working capital is sufficient to carry on the plan for a period of 2 months from the date of issuance of the certificate of authority.

18 Del. C. 1953, §  6305;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;