{"data":{"id":"us-ky/krs-304.38-060","jurisdiction":"us-ky","citation":"KRS 304.38-060","heading":"Issuance of certificate of authority.","body":"Upon receipt of an application for issuance of a certificate of authority, the commissioner\nshall issue or deny the same. Issuance of a certificate of authority shall be granted only if\nthe commissioner finds that the applicant has complied with KRS 304.38 -040 and has\npaid the application fee, and the commissioner is satisfied that the following conditions\nare met:\n(1) The persons responsible for the conduct of the affairs of the application are\ncompetent, trustworthy, and possess good reputations;\n(2) The health maintenance organization is financially responsible and may reasonably\nbe expected to meet its obligations to enrollees and prospective enrollees. In making\nthis determination, the commissioner may consider:\n(a) The financial soundness of the health  maintenance organization's\narrangements for health care services and the schedule of charges used in\nconnection therewith;\n(b) The adequacy of working capital;\n(c) Any agreement with an insurer, a government, or any other organization for\ninsuring the pay ment of the cost of health care services or the provision for\nautomatic applicability of an alternative coverage in the event of\ndiscontinuance of the health maintenance organization or its inability to meet\nits financial obligations;\n(d) Examples of any a greements with providers for the provision of health care\nservices by provider type; and\n(e) Compliance with KRS 304.38 -070 if the applicant is applying for a health\nmaintenance organization certificate of authority as a guarantee that the\nobligations will be duly performed.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29968","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:56Z","sha256":"110752ed7e7f62881113383079a81689a696942272762caa1d1de677c11608d8","source_id":"us-ky","stale":false,"prev":"us-ky/krs-304.38-050","next":"us-ky/krs-304.38-065"},"notice":"GroundRules: Original legal text. Not legal advice."}