(a) At the time of application, the Division shall require a deposit of one hundred thousand dollars ($100,000) in cash or securities or a combination thereof for all provider sponsored organizations. The deposits shall be included in the calculations of a PSO's or applicant's net worth.
(b) All deposits required by this section shall be restricted to use in the event of insolvency to help assume continuation of services or pay costs associated with receivership or liquidation. (1998-227, s. 1.)
Sections: Previous 131E-278 131E-279 131E-280 131E-281 131E-282 131E-283 131E-284 131E-285 131E-286 131E-287 131E-288 131E-289 131E-290 131E-291 131E-292 Next
Last modified: March 23, 2014