Section 15: Bond; waiver
78 words·~1 min read·
/ma/part-i/title-xxii/chapter-176g/15·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 15. Each health maintenance organization shall furnish to the commissioner evidence of a surety bond in an amount satisfactory to the commissioner or deposit with the commissioner cash or sureties acceptable to him in at least the same amount as a guarantee that the obligation to the enrollees will be performed. The commissioner may waive this requirement if a health maintenance organization has contracted with a carrier as defined in section one for the purpose of reinsurance.