Arizona Laws 20-1075. Transactions with affiliates
Current as of: 2024 | Check for updates
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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.
Terms Used In Arizona Laws 20-1075
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Health care services: means services for the purpose of diagnosing, preventing, alleviating, curing or healing human illness or injury. See Arizona Laws 20-1051
- Health care services organization: means any person that undertakes to conduct one or more health care plans. See Arizona Laws 20-1051
- Provider: means any physician, hospital or other person that is licensed or otherwise authorized to furnish health care services in this state. See Arizona Laws 20-1051
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.