28 CA ADC § 1300.76.2


      28 CCR s 1300.76.2

      Cal. Admin. Code tit. 28, s 1300.76.2


      CALIFORNIA CODE OF REGULATIONS
      TITLE 28. MANAGED HEALTH CARE
      DIVISION 1. THE DEPARTMENT OF MANAGED HEALTH CARE
      CHAPTER 2. HEALTH CARE SERVICE PLANS
      ARTICLE 9. FINANCIAL RESPONSIBILITY
      RISK-BEARING ORGANIZATIONS
      This database is current through 06/09/06, Register 2006, No. 23.

      s 1300.76.2. Solicitor Firm Financial Requirement.

      (a) Each solicitor firm which handles funds of plans, subscribers, or 
      other persons contracting with plans, shall at all times maintain a 
      tangible net worth at least equal to 20 percent of such firm's aggregate 
      indebtedness or $10,000, whichever is greater, and shall maintain liquid 
      net assets of at least $5,000 in excess of it current liabilities.

      (b) A solicitor firm which accepts only funds in the form of checks 
      payable to plans, subscribers or other persons contracting with plans and 
      forwards such checks to the payee by the close of the business day 
      following receipt thereof does not "handle funds" within the meaning of 
      this section.


      


      Note: Authority cited: Section 1344, Health and Safety Code. Reference: 
      Section 1376, Health and Safety Code. 


       HISTORY 
         
      1. Editorial correction adding NOTE filed 12-8-82 (Register 82, No. 50).
      28 CA ADC s 1300.76.2

      END OF DOCUMENT

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