KRS 304.38A-110: Conversion of single service organization -- Net worth and capital

requirements.

(1) A person issued a single service organization certificate of authority in accordance

with KRS 304.38-065 and holding the certificate of authority on July 15, 2002, shall

be converted to a limited health service organization as defined in KRS 304.38A -

010. At the next renewal of the certificate of authority, the person shall be issued a

certificate of authority to act as a limited health service organization if it me ets the

requirements for continuance of the certificate of authority. No certificate of

authority to act as a single service organization shall be issued or renewed after July

15, 2002.

(2) A single service organization holding a certificate of authority i mmediately prior to

July 15, 2002, that is converted to a limited health service organization according to

subsection (1) of this section shall continue to be required to meet the minimum net

worth requirement of one hundred twenty -five thousand dollars ($ 125,000) and

shall comply with the risk -based capital requirements for health organizations in

administrative regulations promulgated by the commissioner for health maintenance

organizations and other health organizations.