Florida Statutes 641.183 – Statutory accounting procedures; transition provisions
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Terms Used In Florida Statutes 641.183
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Health maintenance organization: means any organization authorized under this part which:(a) Provides, through arrangements with other persons, emergency care, inpatient hospital services, physician care including care provided by physicians licensed under chapters 458, 459, 460, and 461, ambulatory diagnostic treatment, and preventive health care services. See Florida Statutes 641.19
- Statutory accounting principles: means accounting principles as defined in the National Association of Insurance Commissioners Accounting Practices and Procedures Manual as of 2002. See Florida Statutes 641.19
All health maintenance organizations, authorized to do business under this chapter on January 1, 2001, shall elect a transition method for compliance with statutory accounting principles as follows:(1) Report assets acquired prior to June 30, 2001, in accordance with s. 641.35, Florida Statutes (2000), through December 31, 2005. Assets acquired on or after June 30, 2001, shall be accounted for in accordance with the National Association of Insurance Commissioners Accounting Practices and Procedures Manual effective January 1, 2001. A health maintenance organization electing to report assets pursuant to this subsection shall maintain complete and detailed records reflecting such accounting treatment; or(2) Report all assets in accordance with the NAIC Accounting Practices and Procedures Manual effective January 1, 2001.