Section 27-41-13.1 - Initial net worth and capital requirements(a) Before the director issues a certificate of authority in accordance with § 27-41-4 of this act, an applicant seeking to establish or operate a health maintenance organization shall have the greater of:(1) The amount of capital required for a health organization under chapter 4.7 of this title;(2) An initial net worth of three million dollars ($3,000,000); or(3) At the commissioner's discretion, an amount greater than required under subparagraph (1) or (2), as indicated by a business plan and a projected risk-based capital calculation after the first full year of operation based on the most current National Association of Insurance Commissioners Health Annual Statements Blank.R.I. Gen. Laws § 27-41-13.1
Amended by 2023 Pub. Laws, ch. 395, § I-14, eff. 12/31/2023. P.L. 2005 , ch. 176, § 2.