Louisiana Revised Statutes 22:264.1 – No domestic health maintenance organization shall merge with another person without the prior approval of the commissioner, who may grant such approval upon written request of a dome
Terms Used In Louisiana Revised Statutes 22:264.1
- Commissioner: means the commissioner of insurance. See Louisiana Revised Statutes 22:242
- Health maintenance organization: means any corporation organized as either a business corporation or a nonprofit corporation and domiciled in this state which undertakes to provide or arrange for the provision of basic health care services to enrollees in return for a prepaid charge. See Louisiana Revised Statutes 22:242
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
No domestic health maintenance organization shall merge with another person without the prior approval of the commissioner, who may grant such approval upon written request of a domestic health maintenance organization. The request shall include the articles or plan of merger, a pro-forma consolidated financial statement for the merging entities, and such other information as the commissioner may require to determine that the merger is not detrimental to the enrollees or to the financial solvency of the health maintenance organization. If the merger may result in a change of control of a domestic health maintenance organization, the requirements of this Section may be consolidated with those of La. Rev. Stat. 22:691.4.
Acts 2016, No. 379, §1.