304.38A -080 Net worth -- Deposit -- Risk -based capital requirements. (1) Each limited health service organization shall at all times have and maintain a net worth of not less than one hundred twenty -five thousand dollars ($125,000). (2) (a) Each limited health service organization shall deposit with the commissioner or with any organization or trustee acceptable to the commissioner through which a custodial or controlled account is utilized, cash, securities, or any combination of these or other measures that is acceptable to the commissioner in an amount equal to fifty thousand dollars ($50,000). (b) The deposit shall be an admitted asset. (3) A limited health service organization shall at all times comply with the risk -based capital requirements for health organizations in administrative regulations promulgated by the commissio ner for health maintenance organizations and other health organizations. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1521, effective July 15, 2010. -- Created 2002 Ky. Acts ch. 105, sec. 17, effective July 15, 2002.
Kentucky Legal Code