17:48-4 - Applications for hospital service contracts as condition precedentĀ to issuance of certificate of authority
17:48-4.Ā Applications for hospital service contracts as condition precedentĀ to issuance of certificate of authority
No certificate of authority shall be issued to any hospital service corporation except on receipt of evidence by the Commissioner of Banking and Insurance that the corporation is in receipt of not less than five hundred dollars ($500.00) on bona fide applications for hospital service contracts fromĀ not less than two hundred persons, which applications shall contain provisionsĀ to the effect that any amounts collected with such applications will beĀ returned to such persons if the certificate of authority applied for is notĀ received by the corporation within one year from the date of the first of suchĀ applications.Ā The commissioner may refuse to issue any certificate ofĀ authority applied for if, in his judgment, the issue thereof is contrary to theĀ public interest.
L.1938, c. 366, p. 925, s. 4.
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No certificate of authority shall be issued to any hospital service corporation except on receipt of evidence by the Commissioner of Banking and Insurance that the corporation is in receipt of not less than five hundred dollars ($500.00) on bona fide applications for hospital service contracts fromĀ not less than two hundred persons, which applications shall contain provisionsĀ to the effect that any amounts collected with such applications will beĀ returned to such persons if the certificate of authority applied for is notĀ received by the corporation within one year from the date of the first of suchĀ applications.Ā The commissioner may refuse to issue any certificate ofĀ authority applied for if, in his judgment, the issue thereof is contrary to theĀ public interest.
L.1938, c. 366, p. 925, s. 4.
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