(a) The following persons associated with a managed care organization that participates in the TennCare program shall make disclosures required in § 8-50-502:
Terms Used In Tennessee Code 71-5-137
Contract: A legal written agreement that becomes binding when signed.
Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
(1) Officers and directors of the managed care organization;(2) Any person who is the legal or beneficial owner of five percent (5%) or more of the stock or other ownership interest in the managed care organization; and(3) Any person who controls, is controlled by or is under common control with, the managed care organization and who has entered into a management agreement, service contract, cost-sharing agreement or reinsurance contract with a managed care organization. For purposes of this subdivision (a)(3), “control” has the same meaning as set forth in § 56-11-101(b).(b) An official in the legislative branch, or an official in the executive branch and their immediate families, as such terms are defined in § 3-6-301, shall disclose any ownership interest or other connection as an officer, employee or director that such person may have in any managed care organization that participates in the TennCare program.(c) The compensation from the managed care organization of all persons required to make disclosure under subsection (a) shall be disclosed in addition to the disclosure required under subsection (a). (d) Disclosures required by this section shall be made to the bureau of TennCare and shall be made by March 1 of each year for the previous calendar year.
