20-1075. Transactions with affiliates

A. A health care services organization shall not attempt to sell or otherwise transfer to an affiliate Arizona assets in excess of ten per cent of the organization's unimpaired capital or surplus as reported in its most recent annual statement, without prior approval by the director. If the director does not disapprove such sale or transfer within forty-five days of the date received by the director, the sale or transfer is deemed approved.

B. Unless preempted under federal law or unless federal law imposes greater requirements than this section, this section applies to a provider sponsored health care services organization.

20-1075. Transactions with affiliates

A. A health care services organization shall not attempt to sell or otherwise transfer to an affiliate Arizona assets in excess of ten per cent of the organization's unimpaired capital or surplus as reported in its most recent annual statement, without prior approval by the director. If the director does not disapprove such sale or transfer within forty-five days of the date received by the director, the sale or transfer is deemed approved.

B. Unless preempted under federal law or unless federal law imposes greater requirements than this section, this section applies to a provider sponsored health care services organization.