State Codes and Statutes

State Codes and Statutes

Statutes > North-carolina > Chapter_131E > GS_131E-285

§ 131E‑285.  Deposits.

(a)        At the time of application, the Division shall require adeposit of one hundred thousand dollars ($100,000) in cash or securities or acombination thereof for all provider sponsored organizations. The depositsshall be included in the calculations of a PSO's or applicant's net worth.

(b)        All deposits required by this section shall be restricted touse in the event of insolvency to help assume continuation of services or paycosts associated with receivership or liquidation. (1998‑227, s. 1.)