§ 4581. Incorporation of medical service corporations
(a) Three or more persons licensed by the State Board of Medical Practice to practice medicine and surgery may incorporate under the general law of this State governing corporations for the purpose of forming a medical service corporation, but subject to the provisions of section 4584 of this title.
(b) Subject to the approval of the Commissioner, a medical service corporation may establish, maintain, and operate a hospital service plan as defined in section 4511 of this title. The Commissioner may refuse approval if the Commissioner finds that the rates submitted are excessive, inadequate, or unfairly discriminatory. The contracts of a medical service corporation which operates a hospital service plan under this subsection shall be governed by chapter 123 of this title to the extent that they provide for hospital service benefits, and by this chapter to the extent that the contracts provide for medical service benefits. (Amended 1975, No. 69, § 3, eff. April 18, 1975; 1997, No. 54, § 6, eff. June 26, 1997.)
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
