Nonprofit corporation for hospital or medical services authorized to act as administrator of program of health insurance; notice to Commissioner; exemption from licensing and bonding.
1. A nonprofit corporation for hospital or medical services licensed pursuant to chapter 695B of NRS may enter into a contract to act as an administrator of a program of health insurance.
2. Before entering into a contract pursuant to subsection 1, the nonprofit corporation must notify the Commissioner in writing and provide him with a copy of the contract and a summary of the corporation’s liabilities and costs under the contract.
3. A nonprofit corporation for hospital or medical services that enters into a contract pursuant to this section is exempt from the provisions of this chapter relating to licensing and bonding of administrators, but is subject to all other provisions of this chapter.
Last modified: February 27, 2006