304.3 8-073 Deposit of cash or securities for performance of obligations to enrollees. Each health maintenance organization shall furnish to the commissioner a deposit of cash or securities approved by the commissioner in an amount not less than five hundred thousand dollars ($500,000) so that the obligations to the enrollees shall be performed. A health maintenance organization may be required to furnish an additional deposit if the commissioner determines, after a hearing, that an additional deposit is necess ary for the protection of the health maintenance organization's enrollees. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1504, effective July 15, 2010. -- Amended 2002 Ky. Acts ch. 105, sec. 25, effective July 15, 2002. -- Amended 20 00 Ky. Acts ch. 427, sec. 14, effective July 14, 2000. -- Created 1996 Ky. Acts ch. 286, sec. 2, effective July 15, 1996.
Kentucky Legal Code