Oklahoma § 36-6954 - Application for certificate of authority - Requirements

§ 36-6954. Application for certificate of authority - Requirements

The Insurance Commissioner may certify nonprofit health

maintenance organization 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 health

maintenance organization corporation;

2. The contracts between the applicant and the participating

physicians or other providers of health services 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 only out of operating income, without endangering the

solvency or financial strength of the nonprofit health maintenance

organization corporation; and

4. The nonprofit corporation has met, or will be able to meet,

the requirements set forth in the Health Maintenance Organization

Act of 2003 and the risk-based capital for the Health Maintenance

Organization Act of 2003.

Added by Laws 2014, c. 272, § 3, eff. July 1, 2014.