California Welfare and Institutions Code 14476 – The chief executive, sole proprietor, or managing partner of each …
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The chief executive, sole proprietor, or managing partner of each prepaid health plan shall file with the department an annual statement disclosing any purchases or leases of services, equipment, supplies or real property by the plan from any entity in which any of the following persons have a substantial financial interest as defined by Section 14478:
(a) Any person also having a substantial financial interest in the plan.
Terms Used In California Welfare and Institutions Code 14476
- immediate family: means an individual's spouse and minor dependent children and any other person over which the individual has legal control. See California Welfare and Institutions Code 14478
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- substantial financial interest: means the ownership of common stock, preferred stock, warrants, options, loans, partnership interests, debt instruments, or other ownership interest, if consisting of, or convertible to, equity investments in an entity contracting with the department under the provisions of this chapter or an entity contracting with a current or proposed contractor doing business with the department under the provisions of this chapter, and such ownership interest in terms of fair market value is not less than the greater of the following:
California Welfare and Institutions Code 14478
- Trustee: A person or institution holding and administering property in trust.
(b) Any director, officer, partner, trustee or employee of the plan.
(c) Any member of the immediate family of any person designated in (a) or (b).
(Added by Stats. 1977, Ch. 1036.)