354.705. Certificate of authority granted, when. - Missouri Statutes

Certificate of authority granted, when.

354.705. 1. Issuance of a certificate of authority shall begranted by the director if the director is satisfied that thefollowing conditions are met:

(1) The financial requirements of sections 354.700 to354.723 have been fulfilled;

(2) The prepaid dental plan corporation is financiallyresponsible and may reasonably be expected to meet itsobligations to enrollees and prospective enrollees;

(3) The persons responsible for conducting the affairs ofthe prepaid dental plan corporation are competent and trustworthyand are professionally capable of providing or arranging for theprovision of services offered;

(4) The arrangement with dentists for the provision ofprepaid dental care services has been deemed sufficient; and

(5) Each officer responsible for conducting the affairs ofthe prepaid dental plan corporation has filed with the director,subject to the director's approval, a fidelity bond in the amountof fifty thousand dollars.

2. A certificate of authority shall expire at twelvemidnight on June thirtieth next following the date of issuance orrenewal. If the prepaid dental plan corporation remains incompliance with sections 354.700 to 354.723 and has paid arenewal fee of fifty dollars, its certificate shall be renewedfor a period of time to the next June thirtieth.

(L. 1987 S.B. 272 § 4)

*Transferred 1988; formerly 379.905