Oklahoma § 36-2691.3 - Certificate of authority; requirement

§ 36-2691.3. Certificate of authority; requirement

The Insurance Commissioner shall certify such corporation 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

chiropractic service corporation;

2. The contracts between the applicant and the participating

chiropractors 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 of the chiropractors within the State

of Oklahoma, who are licensed by the State of Oklahoma. The form of

such contracts of participation shall be approved by the Board of

Chiropractic Examiners of Oklahoma prior to securing the required

signatures.

Laws 1979, c. 71, § 3.