Oklahoma § 36-2673 - Certificate of authority - Requirements

§ 36-2673. Certificate of authority - Requirements

The Insurance Commissioner shall certify nonprofit dental

service corporations by issuing a certificate of authority,

authorizing the applicant to issue contracts to its subscribers,

when it is shown to the satisfaction of the Commissioner that:

1. The applicant is established as a bona fide nonprofit dental

service corporation;

2. The contracts between the applicant and the participating

dentists or other providers of health services, if any, obligate

each provider executing the same to render service to which each

subscriber may be entitled under the terms of the contract to be

issued to the subscribers;

3. The amount of required working capital of the corporation is

paid into the corporation and, if subject to repayment, can be

repaid, but without interest, and only out of operating income;

4. The amount of money actually available for working capital

is sufficient to carry on the plan for a period of three (3) months

from the date of issuance of the certificate of authority; and

5. The applicant has secured signed contracts of participation

from not less than one-third (1/3) of the dentists within this state

who hold a current license issued by the Board of Dentistry pursuant

to the State Dental Act. The form of such contracts of

participation shall be approved by the Board of Dentistry prior to

securing the required signatures.

Added by Laws 1973, c. 104, § 3, emerg. eff. May 3, 1973. Amended

by Laws 2000, c. 283, § 1, eff. Nov. 1, 2000.