(a) As used in this chapter, “hospital service corporations”, “medical service corporations”, and “hospital and medical service corporations” are corporations organized under the laws of this state for the purpose of establishing, maintaining, and operating nonprofit hospital service or medical service plans, or combination of plans, whereby hospital, medical, and related services may be provided […]
The corporations described in § 23-75-101 are subject to the following chapters and provisions of this code, to the extent applicable and not in conflict with the express provisions of this chapter: (1) Sections 23-60-101 — 23-60-108 and 23-60-110, referring to scope of code; (2) Section 23-61-101 et seq., § 23-61-201 et seq., and § […]
Hospital service corporations, medical service corporations, and hospital and medical service corporations incorporated in this state shall be governed by this chapter and shall be exempt from all other provisions of this code, except as expressly provided in this chapter. No insurance law hereafter enacted shall be deemed to apply to the corporations unless they […]
(a) This chapter shall not apply to any employer operating or maintaining a hospital service plan or medical service plan, participation in which is limited to his or her employees and the employees of a parent company or subsidiary company of the employer. (b) As used in this section, the term “employees” shall include members […]
(a) Nothing in this chapter shall be deemed to alter the relationship of physician and patient. (b) The corporation shall not in any way influence the subscriber in his or her free choice of hospital or physician, other than to limit its benefits to participating hospitals and physicians. (c) Nothing in this chapter shall be […]
(a) Any corporation shall hereafter be organized under the laws of this state relating to private corporations not for pecuniary profit, insofar as the laws are not inconsistent with this chapter. (b) (1) Upon adoption of an amendment to its articles of incorporation or bylaws, the corporation shall make in duplicate under its corporate seal […]
(a) The corporation may issue contracts to its subscribers only when the Insurance Commissioner has, by certificate of authority, authorized it to do so. (b) Application for the certificate of authority shall be made on forms supplied or approved by the commissioner containing such information as he or she shall deem necessary. (c) Each application […]
(a) The Insurance Commissioner shall issue an initial certificate of authority authorizing the applicant to issue contracts to its subscribers when it is shown to the satisfaction of the commissioner that: (1) The applicant is established as a bona fide nonprofit hospital service corporation or medical service corporation or combination of the two; (2) The […]
(a) (1) Corporations governed by this chapter shall at all times have on deposit through the Insurance Commissioner sums as follows: (A) If newly formed under this chapter, the sum of fifteen thousand dollars ($15,000); or (B) If formed under prior law, the sum as was required under the prior law. (2) (A) Every such […]
(a) A corporation holding a certificate of authority under this chapter may enter into contracts with: (1) Licensed hospitals; (2) Physicians and surgeons licensed to practice in this state; (3) Licensed nursing homes; (4) Visiting nurse associations; and (5) Any hospital maintained and operated by the state or any political subdivision thereof or operated by […]
(a) (1) All rates charged by the corporation to subscribers or classes of subscribers having contracts covered by §§ 23-85-101 — 23-85-131, and the form and content of all contracts between the corporation and its subscribers, classes of subscribers, or groups of subscribers, and the certificates issued by the corporation representing their subscribers’ agreements shall […]
The directors of a corporation shall at all times include representatives of: (1) Administrators or trustees of hospitals which have contracted with the corporation to render hospital service to subscribers, if the corporation is a hospital service corporation or a hospital and medical service corporation; (2) Physicians and surgeons licensed to practice in this state […]
(a) The operating and administrative expenses of any corporation, including, but not limited to, all costs in connection with the solicitation of subscribers to such a corporation and capital expenditures, shall not exceed: (1) Thirty percent (30%) of paid subscriptions during the first year of operation; (2) Twenty-five percent (25%) of paid subscriptions during the […]
(a) (1) Not later than March 1 of each year, every corporation shall file with the Insurance Commissioner a statement sworn to by at least two (2) of its principal officers, showing its condition on the last day of the next preceding calendar year. (2) In accordance with the specifications applicable to annual financial reports, […]
Any surplus in excess of all reserves established by the directors of the corporation and shown in the annual report of a corporation may be used by the corporation for the following purposes in the order of priority shown: (1) To liquidate on a pro rata basis any losses incurred by hospitals, physicians, and surgeons, […]
No liability shall attach to any corporation holding a certificate of authority under this chapter by reason of the failure on the part of any hospital or physician to render service to any of its subscribers, nor for the negligence, malpractice, or other acts of hospitals or physicians.
All orders of the Insurance Commissioner made pursuant to this chapter shall be subject to the provisions of § 23-61-101 et seq. and § 23-61-201 et seq., including the right of hearing, rehearing, and appeal.
(a) The officers of every foreign or alien corporation, and the officers of every domestic corporation, transacting business under this chapter shall, at the time of making its annual statement, file with the Insurance Commissioner a sworn statement of its net direct written premiums for the year ending December 31 next preceding from subscribers residing […]
(a) Every corporation doing business pursuant to this chapter is declared to be a nonprofit and benevolent institution. (b) The corporations are exempt from state, county, district, municipal, and school tax, including the taxes prescribed by this code, and excepting only tax on net direct written premiums under § 23-75-119 and § 26-57-601 et seq. […]
Hospital and medical service corporations shall have power to make donations for the public welfare or for charitable, scientific, or educational purposes, subject to such limitations, if any, as may be contained in its articles of incorporation or any amendment thereto.
