Delaware § 6305 Issuance of certificate of authority

Delaware Statutes

§ 6305 — Issuance of certificate of authority

Delaware·Title 18·Part Insurance·Ch. 63 HEALTH SERVICE CORPORATIONS

The Commissioner shall issue a certificate of authority to the applicant when it is shown to the Commissioner’s satisfaction that:

(1)The applicant is established as a bona fide nonprofit health service corporation;

(2)Arrangements have been made by the applicant reasonably to assure provision of the services covered by its contracts and riders;

(3)The amounts provided as working capital of the corporation are repayable, without interest, only out of operating revenues;

(4)The amount of money actually available for working capital is sufficient to carry on the plan for a period of 2 months from the date of issuance of the certificate of authority.

Free access — add to your briefcase to read the full text and ask questions with AI

The Commissioner shall issue a certificate of authority to the applicant when it is shown to the Commissioner’s satisfaction that:

(1) The applicant is established as a bona fide nonprofit health service corporation;

(2) Arrangements have been made by the applicant reasonably to assure provision of the services covered by its contracts and riders;

(3) The amounts provided as working capital of the corporation are repayable, without interest, only out of operating revenues;

(4) The amount of money actually available for working capital is sufficient to carry on the plan for a period of 2 months from the date of issuance of the certificate of authority.

Delaware § 6305 (Issuance of certificate of authority) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.