Section 18.04.04.011 - CAPITAL SURPLUS AND DEPOSIT REQUIREMENTS01.Amount. The following minimum capital fund apply, as per Section 41-3905(8), Idaho Code: Enrolled Members | Capital Funds |
0-100 | $200,000 |
101-300 | $300,000 |
301-500 | $400,000 |
501-700 | $500,000 |
701-1,000 | $1,000,000 |
1,001-2,000 | $1,500,000 |
2,001-3,000 | $2,000,000 |
02.Time. Within the following time periods after the organization becomes subject to the Act, in no event will the organization's capital funds be less than: One year | $1,000,000 |
Two years | $1,500,000 |
Three years | $2,000,000 |
a. Immediately upon becoming subject to the Act, the MCO's minimum statutory deposit is calculated as fifty percent (50%) of the amount of the organization's capital funds as calculated above, but not less than two hundred thousand dollars ($200,000). The minimum deposit so held is adjusted based on the organization's December 31 and June 30 financial statement filings each year. In no event will the minimum prescribed statutory deposit be reduced. Upon filing a financial statement indicating an increase in the deposit amount, the organization will have no more than thirty (30) days to come into compliance with the prescribed amount. Failure to increase the deposit as prescribed may subject the organization to suspension or revocation of its certificate of authority pursuant to Section 41-326, Idaho Code.Idaho Admin. Code r. 18.04.04.011