A. If after such investigation as he deems advisable the superintendent finds that the applicant is in sound financial condition and is otherwise qualified therefor, he shall issue to the applicant a certificate of authority as a health care plan.
B. If the superintendent does not so find, he shall deny issuance of the certificate of authority and notify the applicant thereof in writing stating the reasons for such denial.
History: Laws 1984, ch. 127, § 879.7; 1999, ch. 133, § 5.
The 1999 amendment, effective June 18, 1999, inserted "and" in the section heading; deleted "prior to expiration of one year from date of issuance of the preliminary permit referred to in Section 879.4 of this article the newly-formed health care plan has filed and completed its application to the superintendent for an initial certificate of authority as required under Section 879.6 of this article, and" following "If", and substituted "a" for "an initial" in Subsection A; and substituted "the certificate" for "an initial certificate" in Subsection B.
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