District of Columbia § 31-3405 Fiduciary responsibilities.

District of Columbia Statutes

§ 31-3405 — Fiduciary responsibilities.

District of Columbia·Title 31 Insurance and Securities.·Ch. 34 Health Maintenance Organizations.

(a)Any director, officer, employee, or partner of a health maintenance organization who receives, collects, disburses, or invests funds in connection with the activities of such organization shall be responsible for such funds in a fiduciary relationship to the organization.

(b)A health maintenance organization shall maintain in force a fidelity bond or fidelity insurance on such employees and officers, directors, and partners in an amount not less than $250,000 and not more than $5,000,000.

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(a) Any director, officer, employee, or partner of a health maintenance organization who receives, collects, disburses, or invests funds in connection with the activities of such organization shall be responsible for such funds in a fiduciary relationship to the organization.

(b) A health maintenance organization shall maintain in force a fidelity bond or fidelity insurance on such employees and officers, directors, and partners in an amount not less than $250,000 and not more than $5,000,000.

District of Columbia § 31-3405 (Fiduciary responsibilities.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.