304.3 8A-110 Conversion of single service organization -- Net worth and capital requirements. (1) A person issued a single service organization certificate of authority in accordance with KRS 304.38 -065 and holding the certificate of authority on July 15, 2002 , shall be converted to a limited health service organization as defined in KRS 304.38A - 010. At the next renewal of the certificate of authority, the person shall be issued a certificate of authority to act as a limited health service organization if it me ets the requirements for continuance of the certificate of authority. No certificate of authority to act as a single service organization shall be issued or renewed after July 15, 2002. (2) A single service organization holding a certificate of authority i mmediately prior to July 15, 2002, that is converted to a limited health service organization according to subsection (1) of this section shall continue to be required to meet the minimum net worth requirement of one hundred twenty -five thousand dollars ($ 125,000) and shall comply with the risk -based capital requirements for health organizations in administrative regulations promulgated by the commissioner for hundred twenty -five thousand dollars ($ 125,000) and shall comply with the risk -based capital requirements for health organizations in administrative regulations promulgated by the commissioner for health maintenance organizations and other health organizations. Effective: July 15, 2010 History: Amended 2010 Ky. Acts ch. 24, sec. 1524, effective July 15, 2010. -- Created 2002 Ky. Acts ch. 105, sec. 20, effective July 15, 2002.
Kentucky Legal Code