§ 10-16-504 — Issuance of certificate of authority

(1) Issuance of a certificate
of authority shall be granted by the commissioner if the commissioner is satisfied
that the following conditions are met:

(a) The requirements of section 10-16-503 have been fulfilled;

(b) The prepaid dental care plan organization is financially responsible and
may reasonably be expected to meet its obligations to enrollees and prospective
enrollees;

(c) The agreement with providers for the provision of prepaid dental care
services has been deemed sufficient;

(d) Each officer responsible for conducting the affairs of the prepaid dental
care plan organization has filed with the commissioner, subject to the
commissioner's approval, a fidelity bond in the amount of fifty thousand dollars.

(2) A certificate of authority shall expire at 12 midnight on June 30 next
following the date of issuance or renewal and shall be renewed as provided in
section 10-3-117. A prepaid dental care plan organization shall pay a renewal fee as
prescribed pursuant to section 10-3-207.

Legislative History

Source: L. 92: Entire article R&RE, p. 1717, � 1, effective July 1; (2) amended, p. 1601, � 130, effective July 1.