695F.200 - Maintenance of capital account and surety. - Nevada Statutes

695F.200  Maintenance of capital account and surety.  Each prepaid limited health service organization which receives a certificate of authority shall maintain a:

      1.  Capital account with a net worth of not less than $200,000 unless a lesser amount is permitted in writing by the Commissioner. The account must not be obligated for any accrued liabilities and must consist of cash, securities or a combination thereof which is acceptable to the Commissioner.

      2.  Surety bond or deposit of cash or securities for the protection of enrollees of not less than $250,000.

      (Added to NRS by 1991, 1118)