§ 695F.120 — Review of application; issuance of certificate

Nevada § 695F.120

• Jurisdiction: Nevada
• Title 57: INSURANCE
• Ch. 695F: Prepaid

Text

1. The Commissioner shall review each application and notify the applicant of any deficiency contained in the application.
2. The Commissioner shall issue a certificate of authority to an applicant if:
(a) The applicant has complied with the requirements set forth in NRS 695F.110 ;
(b) The persons responsible for conducting the applicant’s affairs are competent, trustworthy and possess good reputations, and have the appropriate experience, training or education;
(c) The applicant is financially responsible and may reasonably be expected to carry out its obligations to enrollees and prospective enrollees; and
(d) The agreements with providers for the limited health service include the provisions required by NRS 695F.220 .
3. The Commissioner may, when determining whether an applicant complies with the requirements of paragraph (c) of subsection 2, consider:
(a) The financial soundness of the applicant’s arrangements for the provision of a limited health service and the schedule of rates, deductibles, copayments and other charges used in connection therewith;
(b) The adequacy of working capital, any other sources of funding and any provisions for contingencies;
(c) Any agreement for paying the cost of a limited health service or for alternative coverage if the prepaid limited health service organization becomes insolvent; and
(d) The applicant’s manner of compliance with the requirements of NRS 695F.200 .

Legislative History

(Added to NRS by 1991, 1115 )