Effective - 28 Aug 1997
354.710. Reserve requirements — reserve not required for prepaid dental plans funded by government — surplus requirement for prepaid dental plans in existence January 1, 1987, additional time. — 1. Every prepaid dental plan organization shall, not later than January 1, 1994, have accumulated reserves in the amount of two percent of its subscription income up to a maximum amount of one hundred fifty thousand dollars. One-third of such reserves shall be accumulated not later than January 1, 1990. Two-thirds of such reserves shall be accumulated not later than January 1, 1992. Such reserves shall constitute restricted surplus on the books of the company and shall be in addition to the deposit requirement of section 354.707. A prepaid dental plan organization shall maintain as a claim or loss reserve in cash or securities, assets sufficient to discharge all liabilities on all uncovered expenses arising under policies issued. Such liabilities on uncovered expenses shall be determined in accordance with generally accepted accounting principles for the actual contractual obligations with providers and shall not be recorded as unearned premium or deferred revenue.
2. The reserve prescribed by subsection 1 of this section shall not apply with respect to a prepaid dental plan corporation which is funded by a federal, state, or municipal government or by any political subdivision thereof and which meets the requirements of subdivision (4) of subsection 2 of section 354.707.
3. Any prepaid dental plan in existence prior to January 1, 1987, will have five years to meet the surplus requirements of subsection 1 of section 354.707. However, at no time shall the liabilities of a prepaid plan exceed its assets.
4. The reserve prescribed by subsection 1 of this section, and the fidelity bond prescribed by section 354.705, shall not be required of any prepaid dental plan operated and offered by any provider prior to August 28, 1987, which primarily serves low-income patients.
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(L. 1987 S.B. 272 § 6, A.L. 1990 H.B. 998, A.L. 1992 S.B. 698, A.L. 1997 S.B. 150)
Structure Missouri Revised Statutes
Title XXIII - Corporations, Associations and Partnerships
Chapter 354 - Health Services Corporations — Health Maintenance Organizations — Prepaid Dental Plans
Section 354.010 - Definitions.
Section 354.015 - Health services corporations, laws applicable to — exceptions.
Section 354.020 - Preexisting health services corporation to amend articles, effect of.
Section 354.025 - Corporate purposes and authority.
Section 354.030 - For-profit corporations excluded from act.
Section 354.035 - Procedure for organization of corporation.
Section 354.040 - Articles of incorporation, required information and contents.
Section 354.045 - Issuance of certificate, effect of.
Section 354.050 - General powers of corporation.
Section 354.055 - Certificate of authority required — expiration of, extended how.
Section 354.060 - Director to issue certificate, when.
Section 354.065 - Articles of incorporation, how amended — copy to director, when.
Section 354.070 - Certificate of authority automatically extended, when.
Section 354.075 - Capital required to do business.
Section 354.080 - Reserves required, how computed.
Section 354.090 - Health services corporation contracts, purposes, parties to.
Section 354.095 - Limitation of membership and benefits — certain benefits to be provided, when.
Section 354.105 - Annual report required, contents of.
Section 354.120 - Rules and regulations by director authorized — procedure, review.
Section 354.130 - Exemption from certain taxes, exceptions.
Section 354.140 - Dissolution, liquidation or rehabilitation of corporation, procedure for.
Section 354.145 - Appeal from director's actions or decisions, how taken.
Section 354.150 - Fees — waiver, when.
Section 354.155 - Disclaimer as to nonhealth services corporations.
Section 354.165 - Certain organizations exempt.
Section 354.175 - Wage continuation plans by employer exempt.
Section 354.180 - Administrative order, director to issue, when.
Section 354.190 - Examinations, procedures.
Section 354.195 - Records of examination, duty to keep.
Section 354.200 - Examinations, false testimony, penalty.
Section 354.205 - Examinations — costs, how paid.
Section 354.210 - Director may seek relief, when.
Section 354.215 - Examiner's sick leave to apply to health services corporations.
Section 354.220 - Director may bring suit to recover fees or sums.
Section 354.230 - License required for enrollment representative.
Section 354.235 - Enrollment representative — license issued when, qualifications.
Section 354.240 - Nonresident may be licensed — examination waived, when.
Section 354.265 - Nonrenewable temporary license issued, when.
Section 354.275 - Violations by enrollment representatives, penalties.
Section 354.300 - Certificate of authority suspended or revoked, when.
Section 354.305 - Corporation advertising assets also to show liabilities — penalties.
Section 354.330 - Public official failing to perform duties as to investment violations, penalty.
Section 354.335 - Damages allowed if corporation without reasonable cause refuses to pay.
Section 354.350 - Fraudulent or bad faith conduct — investigation by division — hearing, procedure.
Section 354.357 - Receivership, grounds, procedure.
Section 354.362 - Newborn child coverage required — notice of birth, when, effect.
Section 354.380 - Certain provisions of insurance law to be applicable.
Section 354.400 - Definitions.
Section 354.407 - PACE projects not deemed health maintenance organizations, when.
Section 354.415 - Powers of organization.
Section 354.420 - Advisory panels to afford enrollees participation in policy decisions.
Section 354.425 - Bonding of officers who disburse or invest funds — bond requirements.
Section 354.435 - Annual reports filed with director, when — content — forms.
Section 354.440 - Information to be available to enrollees.
Section 354.441 - Disclosures to subscribers shall not be prohibited or restricted.
Section 354.442 - Disclosure information to enrollees required, when.
Section 354.444 - Administrative orders for violations — voluntary forfeitures, civil actions.
Section 354.445 - Complaints by enrollees, organization to establish system.
Section 354.450 - Investments authorized.
Section 354.455 - Deposit required, how made.
Section 354.462 - Enrollee, grounds for disenrollment.
Section 354.464 - Names not authorized for use, exceptions.
Section 354.465 - Examinations by division, when — costs, how paid.
Section 354.470 - Suspension or revocation, when — effect.
Section 354.485 - Rules and regulations authorized.
Section 354.490 - Certificate of authority, denial, suspension or revocation, grounds — procedure.
Section 354.495 - Fees to be paid to director.
Section 354.500 - Conferences called by director as to suspected or potential violations.
Section 354.505 - Laws regulating insurance or health service corporations not to apply, exceptions.
Section 354.510 - Public documents, all filings and required reports.
Section 354.520 - Mergers, consolidations, control of organization, requirements.
Section 354.530 - Severability clause.
Section 354.536 - Continuation of dependent child coverage, when — dependent child defined.
Section 354.545 - Exempt plans and companies.
Section 354.550 - Laws not applicable to community health companies.
Section 354.551 - Health maintenance organizations may offer point of service (POS) riders, when.
Section 354.552 - Community-based health maintenance organizations, requirements.
Section 354.556 - Trustees, vacancies, elections.
Section 354.558 - Materials provided to prospective purchasers.
Section 354.559 - Disclosure to members, restrictions and prohibitions.
Section 354.562 - Grievance procedures, rulemaking authority.
Section 354.563 - Medicare rules to apply to community-based health maintenance organizations, when.
Section 354.570 - Rulemaking — procedure.
Section 354.600 - Definitions.
Section 354.609 - Termination of a contract, procedure.
Section 354.612 - Continuation of care after provider termination, when.
Section 354.615 - Referrals to appropriate providers, when.
Section 354.621 - Intermediary and participating provider requirements.
Section 354.627 - Liability of a health carrier, when.
Section 354.636 - Contract requirements after January 1, 1998.
Section 354.650 - Definitions.
Section 354.652 - Designation as essential community provider, procedure, qualifications.
Section 354.654 - Department of health and senior services, duties — rulemaking authority.
Section 354.656 - Inclusion of essential community providers in health care network, exceptions.
Section 354.700 - Definitions.
Section 354.704 - Application for certificate of authority, content.
Section 354.705 - Certificate of authority granted, when.
Section 354.717 - Director, powers — financial examinations, when, by whom made and paid.
Section 354.720 - Annual report, required, content.
Section 354.721 - Agents, registration required — rules and regulations authorized.
Section 354.723 - Rulemaking authorized.
Section 354.725 - Exclusion, labor organization's health plans.