Effective 28 Aug 1987
354.705. Certificate of authority granted, when. — 1. Issuance of a certificate of authority shall be granted by the director if the director is satisfied that the following conditions are met:
(1) The financial requirements of sections 354.700 to 354.723 have been fulfilled;
(2) The prepaid dental plan corporation is financially responsible and may reasonably be expected to meet its obligations to enrollees and prospective enrollees;
(3) The persons responsible for conducting the affairs of the prepaid dental plan corporation are competent and trustworthy and are professionally capable of providing or arranging for the provision of services offered;
(4) The arrangement with dentists for the provision of prepaid dental care services has been deemed sufficient; and
(5) Each officer responsible for conducting the affairs of the prepaid dental plan corporation has filed with the director, subject to the director's approval, a fidelity bond in the amount of fifty thousand dollars.
2. A certificate of authority shall expire at twelve midnight on June thirtieth next following the date of issuance or renewal. If the prepaid dental plan corporation remains in compliance with sections 354.700 to 354.723 and has paid a renewal fee of fifty dollars, its certificate shall be renewed for a period of time to the next June thirtieth.
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(L. 1987 S.B. 272 § 4)
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