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Section 27-41-13.1 Initial net worth and capital requirements.

RI Gen L § 27-41-13.1 (2019) (N/A)
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§ 27-41-13.1. Initial net worth and capital requirements. (a) Before the director issues a certificate of authority in accordance with § 27-41-4 of this act, an applicant seeking to establish or operate a health maintenance organization shall have the greater of:

(1) The amount of capital required for a health organization under chapter 4.7 of this title;

(2) An initial net worth of three million dollars ($3,000,000); or

(3) At the commissioner's discretion, an amount greater than required under subparagraph (1) or (2), as indicated by a business plan and a projected risk-based capital calculation after the first full year of operation based on the most current National Association of Insurance Commissioners Health Annual Statements Bank.

History of Section. (P.L. 2005, ch. 176, § 2.)

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Section 27-41-13 Protection against insolvency.
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Section 27-41-13.2 Ongoing net worth and capital requirements.