23-76-111. Fiduciary responsibilities of director, officer, or partner.

Arkansas Code — all titles (historical 2020) · legal_authorities

23-76-111. Fiduciary responsibilities of director, officer, or partner.

23-76-111. Fiduciary responsibilities of director, officer, or partner. (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.

Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-76-111

Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.