Nev. Admin. Code § 695D.160 - Powers of organization; approval by Commissioner

1. Subject to the approval of the Commissioner as provided in subsections 2 and 3, the powers of an organization include the power to:

(a) Purchase, lease, construct, renovate, operate or maintain any dental facility, ancillary equipment or other property reasonably required for its principal office or any other purpose related to the business of the organization.

(b) Make any loan in furtherance of its program to provide services to its members:

(1) To a dental group under contract with the organization; or

(2) To a corporation under its control.

(c) Furnish services through providers under contract with the organization or employed by it.

(d) Contract with any person for the performance of services related to marketing, enrollment and administration.

(e) Contract with any insurance company that is licensed in this State or is authorized to do business in this State for the provision of insurance for, indemnity against, or reimbursement of the cost of services provided by the organization.

2. The exercise of any power specified in subsection 1 must be approved in advance by the Commissioner. A written request to exercise any such power must be submitted to the Commissioner, accompanied by such supporting information as the Commissioner deems necessary to review the request. The Commissioner may deny the request if he or she determines that the exercise of the power would:

(a) Have a substantial adverse effect upon the financial soundness of the organization; and

(b) Impair the ability of the organization to meet its obligations.

3. If the Commissioner does not deny a request within 60 days after it is submitted, it shall be deemed approved.

Notes

Nev. Admin. Code § 695D.160

Added to NAC by Comm'r of Insurance, eff. 12-2-88

NRS 679B.130, 695D.100