California Insurance Code

§ 10930

INS § 10930 Effective Jan 1, 2013Div. 2 · Part 2 · Ch. 9.6

Statute text

For purposes of this chapter, the following definitions shall apply:

(a)“Consumer operated and oriented plan” means a nonprofit member organization or nonprofit member corporation that has been established consistent with the requirements of Section 1322 of PPACA and Subpart F (commencing with Section 156.500) of Part 156 of Subchapter B of Subtitle A of Title 45 of the Code of Federal Regulations and remains in full compliance with those requirements. A consumer operated and oriented plan shall also be known as a “CO-OP.”

(b)“Formation board” means the initial board of directors of a CO-OP before it has begun accepting enrollment and had an election by the members of the CO-OP to the board of directors.

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Legislative history

Added by Stats. 2012, Ch. 859, Sec. 3. (AB 1846) Effective January 1, 2013.