695F.120  Review of application; issuance of certificate.

1.  The Commissioner shall review each application and notify the applicant of any deficiency contained in the application.

2.  The Commissioner shall issue a certificate of authority to an applicant if:

(a) The applicant has complied with the requirements set forth in NRS 695F.110;

(b) The persons responsible for conducting the applicant’s affairs are competent, trustworthy and possess good reputations, and have the appropriate experience, training or education;

(c) The applicant is financially responsible and may reasonably be expected to carry out its obligations to enrollees and prospective enrollees; and

(d) The agreements with providers for the limited health service include the provisions required by NRS 695F.220.

3.  The Commissioner may, when determining whether an applicant complies with the requirements of paragraph (c) of subsection 2, consider:

(a) The financial soundness of the applicant’s arrangements for the provision of a limited health service and the schedule of rates, deductibles, copayments and other charges used in connection therewith;

(b) The adequacy of working capital, any other sources of funding and any provisions for contingencies;

(c) Any agreement for paying the cost of a limited health service or for alternative coverage if the prepaid limited health service organization becomes insolvent; and

(d) The applicant’s manner of compliance with the requirements of NRS 695F.200.

(Added to NRS by 1991, 1115)