Each health maintenance organization shall furnish a surety bond in an amount satisfactory to the director or deposit with the director cash or securities acceptable to him in at least the same amount as a guarantee that the obligations to the enrollees will be performed. The director may waive this requirement whenever he is satisfied that the assets of the organization or its contracts with insurers, hospital or medical service corporations, governments, or other organizations are sufficient to reasonably assure the performance of its obligations.
S.D. Codified Laws § 58-41-11
Surety bond or deposit required--Waiver
Known as the Health Maintenance Organization Act
The act spans §§ 58-41-1–58-41-99 (129 sections).
Source: SL 1974, ch 321, § 31.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.