CHAPTER 9.6. Consumer Operated and Oriented Plans
Chapter 9.6 added by Stats. 2012, Ch. 859, Sec. 3.
§§ 10930–10930.9 · 10 sections
- § 10930 For purposes of this chapter, the following definitions shall apply: (a) “Consumer operated and oriented plan” means a nonprofit member organization or…
- § 10930.1 (a) The commissioner shall have the authority to issue a certificate of authority as a disability insurer to a CO-OP that has been organized as a nonprofit…
- § 10930.2 A domestic or foreign insurer admitted as a CO-OP insurer shall be subject to the same “paid-in capital” or “capital paid-in” requirements as are imposed on…
- § 10930.3 (a) A domestic or foreign CO-OP admitted as a CO-OP insurer shall be subject to all of the provisions of this code that are applicable to insurers issuing…
- § 10930.4 (a) A solvency loan obtained by a CO-OP shall be treated as a surplus note and shall be subject to the same requirements as are imposed on mutual insurers…
- § 10930.5 The provisions of Section 699.5 shall apply to any insurer admitted as a CO-OP insurer; however, any loans received by the CO-OP in the form of a solvency or…
- § 10930.6 (a) A CO-OP shall be subject at all times to the prohibitions in PPACA against converting or selling to a for-profit or nonconsumer-operated entity at any time…
- § 10930.7 A CO-OP insurer is insolvent if its surplus becomes less than the amount of paid-in capital required of a capital stock company to qualify to transact the…
- § 10930.8 In addition to any applicable requirements in this code for maintaining a certificate of authority, a CO-OP is required at all times to be in full compliance…
- § 10930.9 The department may adopt regulations implementing this chapter pursuant to the Administrative Procedure Act (Chapter 3.5 (commencing with Section 11340) of…