NAC695C.350. Notice and approval required for modification of operations.

A provider-sponsored organization shall, unless otherwise provided for in this chapter, file a notice with the Commissioner before any material modification of the operations described in the information required by NAC 695C.115. The provider-sponsored organization shall submit a copy of its proposed modification to the Commissioner. The Commissioner may, as a condition of approval for the proposed modification by the provider-sponsored organization, require the provider-sponsored organization to increase the amount of reserves, deposits, bonds or minimum net worth it is required to maintain. If the Commissioner does not disapprove the modification within 90 days after filing of the notice, the modification is deemed approved.

     (Added to NAC by Comm’r of Insurance by R148-99, eff. 1-27-2000)