{"data":{"id":"us-ky/krs-304.38-040","jurisdiction":"us-ky","citation":"KRS 304.38-040","heading":"Establishment of health maintenance organizations.","body":"(1) A corporation, limited liability company, or partnership may apply to the\ncommissioner for and obtain a certificate of authority to establish and operate a\nhealth maintenance organization in compliance with this subtitle.\n(2) Health maintenance organizatio ns which are corporations may be organized by\napplying the provisions of KRS Chapter 271B, if for profit, and KRS Chapter 273,\nif for nonstock, nonprofit, to the extent that the same are not inconsistent with the\nexpress provisions of this subtitle.\n(3) Each application for a certificate of authority shall be submitted to the\ncommissioner upon a form prescribed by the commissioner and shall set forth or be\naccompanied by:\n(a) Evidence that the applicant has been issued a certificate of need in accordance\nwith the provisions of KRS Chapter 216B or evidence that no certificate of\nneed is required by KRS Chapter 216B;\n(b) Articles of incorporation, articles of organization, partnership agreement, or\nother applicable documents in quadruplicate, acknowledged and verified by\nthe applicant;\n(c) The initial bylaws, operating agreement, or other equivalent documents of the\norganization in triplicate, or any other similar documents;\n(d) A statement which shall include describing the health maintenance\norganization:\n1. The health services to be offered;\n2. The financial risks to be assumed;\n3. The initial geographic area to be served;\n4. Pro forma financial projections for the first three (3) years of operations\nincluding the assumptions the projections are based upon;\n5. The sources of working capital and funding;\n6. A description of the persons to be covered by the health maintenance\norganization;\n7. Any proposed reinsurance arrangements;\n8. Any proposed management, administrative, or cost -sharing\narrangements; and\n9. A description of the health maintenance organization's proposed method\nof marketing;\n(e) The names, addresses, and positions of the initial board of directors, board of\ntrustees, or other governing body responsible for the conduct of the affairs of\nthe applicant;\n(f) Any proposed evidence of coverage to be issued by the applicant to\nindividuals, enrollees, groups, or other contract holders; and\n(g) Evidence of financial responsibility as provided in KRS 304.38-060.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29966","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:56Z","sha256":"a4e51804f9db93fb8bcc4b908c3355e75baca994bf245a68fe267609a9619782","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.38-035","next":"us-ky/krs-304.38-042"},"notice":"GroundRules: Original legal text. Not legal advice."}