(a) Any director, officer, or partner of a health maintenance organization who receives, collects, disburses, or invests funds in connection with the activities of the health maintenance organization shall be responsible for the funds in a fiduciary relationship to the enrollees.
(b) A health maintenance organization shall maintain in force a fidelity bond or fidelity insurance on these employees, officers, directors, and partners in an amount not less than two hundred fifty thousand dollars ($250,000) for each health maintenance organization or a maximum of five million dollars ($5,000,000) in aggregate maintained on behalf of health maintenance organizations owned by a common parent corporation, or the sum prescribed by the Insurance Commissioner.
Section: Previous 23-76-104 23-76-105 23-76-106 23-76-107 23-76-108 23-76-109 23-76-110 23-76-111 23-76-112 23-76-113 23-76-114 23-76-115 23-76-116 23-76-117 23-76-118 NextLast modified: November 15, 2016