South Dakota § 58-39-7 Issuance of license--Matters considered by director.

South Dakota Statutes

§ 58-39-7 — Issuance of license--Matters considered by director.

South Dakota·Title 58 INSURANCE·Ch. 58-39 NONPROFIT DENTAL SERVICE PLANS

The director shall issue license upon being satisfied on the following points:

(1)That the applicant is established as a bona fide nonprofit dental service corporation;

(2)That the contracts between the applicant and the participating dentists obligate each dentist to render service to which each subscriber may be entitled under the terms and conditions of the contract issued to the subscriber;

(3)That the rates to be charged and the benefits to be provided are fair and reasonable;

(4)That the amounts provided as working capital of the corporation are repayable only out of earned income paid and payable for operating expenses, dentist expenses, and such reserve as the director may deem adequate; and (5) That the amount of money actually available for working capital be s

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The director shall issue license upon being satisfied on the following points: (1) That the applicant is established as a bona fide nonprofit dental service corporation; (2) That the contracts between the applicant and the participating dentists obligate each dentist to render service to which each subscriber may be entitled under the terms and conditions of the contract issued to the subscriber; (3) That the rates to be charged and the benefits to be provided are fair and reasonable; (4) That the amounts provided as working capital of the corporation are repayable only out of earned income paid and payable for operating expenses, dentist expenses, and such reserve as the director may deem adequate; and (5) That the amount of money actually available for working capital be sufficient to carry all operating expenses for a reasonable period of time from the date of the issuance of the certificate.

South Dakota § 58-39-7 (Issuance of license--Matters considered by director.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.