Oregon Statutes 415.203 – Opportunity to cure impairment of required capitalization
(1) Whenever the Oregon Health Authority determines from any showing or statement made to the authority from any examination made by the authority that the assets of a coordinated care organization are less than its liabilities plus required capitalization, the authority may:
Terms Used In Oregon Statutes 415.203
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(a) Proceed immediately to petition for an order of rehabilitation or liquidation or to commence a delinquency proceeding; or
(b) Allow the coordinated care organization a period of time, not to exceed 90 days, in which to make good the amount of the impairment with cash or authorized investments.
(2) If the amount of the impairment is not made good within the time prescribed by the authority under subsection (1) of this section, the authority shall proceed to petition for an order of rehabilitation or liquidation or to commence a delinquency proceeding.
(3) An order directing a coordinated care organization to cure an impairment is confidential for such time as the authority considers proper but not exceeding the time prescribed by the authority for making the amount of the impairment good. If the authority determines that the public interest in disclosure outweighs the public interest in protecting or salvaging the solvency of the coordinated care organization, the authority may make the order available for public inspection. [2019 c.478 § 26]