Any director, officer or partner of a health maintenance organization who receives, collects, disburses, or invests funds in connection with the activities of the organization shall be responsible for the funds in a fiduciary relationship with the subscribers and enrollees.

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Terms Used In Virginia Code 38.2-4305

  • Fiduciary: A trustee, executor, or administrator.
  • Health maintenance organization: means any person who undertakes to provide or arrange for one or more health care plans. See Virginia Code 38.2-4300

1980, c. 720, § 38.1-868; 1986, c. 562.

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