41-3707. Qualifications for registration. The director shall not register a hospital trust which is not qualified therefor. To be qualified, a hospital trust:
(1) Must require all contributions to be paid in advance and to be deposited in and disbursed from a trust fund duly created and existing under an adequate written trust agreement between the hospitals.
(2) Must have, or provide for, a trustworthy and responsible trustee, and for competent administration of the trust fund and plan.
(3) Must provide that the administrator or trustee on behalf of the trust fund, as the case may be, shall furnish to each member of the trust a written statement adequately and clearly stating all rights and obligations of the members of the trust, together with all applicable restrictions, limitations, and exclusions, and the procedure for filing a claim.
(4) Must be actuarially sound; that is, assets, income and other financial resources of the trust fund must be adequate under reasonable estimates for payment of all claims, claims adjustment expenses, taxes, expenses and other obligations.
(5) Must otherwise be in compliance with this chapter.
41-3707. Qualifications for registration. The director shall not register a hospital trust which is not qualified therefor. To be qualified, a hospital trust:
(1) Must require all contributions to be paid in advance and to be deposited in and disbursed from a trust fund duly created and existing under an adequate written trust agreement between the hospitals.
(2) Must have, or provide for, a trustworthy and responsible trustee, and for competent administration of the trust fund and plan.
(3) Must provide that the administrator or trustee on behalf of the trust fund, as the case may be, shall furnish to each member of the trust a written statement adequately and clearly stating all rights and obligations of the members of the trust, together with all applicable restrictions, limitations, and exclusions, and the procedure for filing a claim.
(4) Must be actuarially sound; that is, assets, income and other financial resources of the trust fund must be adequate under reasonable estimates for payment of all claims, claims adjustment expenses, taxes, expenses and other obligations.
(5) Must otherwise be in compliance with this chapter.
41-3707. Qualifications for registration. The director shall not register a hospital trust which is not qualified therefor. To be qualified, a hospital trust:
(1) Must require all contributions to be paid in advance and to be deposited in and disbursed from a trust fund duly created and existing under an adequate written trust agreement between the hospitals.
(2) Must have, or provide for, a trustworthy and responsible trustee, and for competent administration of the trust fund and plan.
(3) Must provide that the administrator or trustee on behalf of the trust fund, as the case may be, shall furnish to each member of the trust a written statement adequately and clearly stating all rights and obligations of the members of the trust, together with all applicable restrictions, limitations, and exclusions, and the procedure for filing a claim.
(4) Must be actuarially sound; that is, assets, income and other financial resources of the trust fund must be adequate under reasonable estimates for payment of all claims, claims adjustment expenses, taxes, expenses and other obligations.
(5) Must otherwise be in compliance with this chapter.
