California Insurance Code

§ 10930.6

INS § 10930.6 Effective Jan 1, 2013Div. 2 · Part 2 · Ch. 9.6

Statute text

(a)A CO-OP shall be subject at all times to the prohibitions in PPACA against converting or selling to a for-profit or nonconsumer-operated entity at any time after receiving a solvency loan.

(b)A CO-OP shall do all of the following, in addition to any other requirements imposed under Section 156.515 of Title 45 of the Code of Federal Regulations:

(1)Implement policies and procedures to foster and ensure member control of the organization. For purposes of this paragraph, a CO-OP shall meet the following requirements:

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Legislative history

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