NRS 695D.153
Capital account: Minimum amount

  • requirements.

1.

Each organization for dental care which receives a certificate of authority shall maintain a capital account with a net worth of not less than $500,000 unless a lesser amount is permitted in writing by the Commissioner.

2.

An organization for dental care which has been issued a certificate of authority pursuant to this chapter shall maintain a capital account with a net worth in an amount which is not less than the greater of:

(a)

The amount of risk-based capital required by regulations adopted by the Commissioner pursuant to NRS 681B.550; or

(b)

The following applicable amount, according to the number of members in the organization:
[Text not available]
Number of members Net worth
Less than 2,500.................................................................................................. $50,000
At least 2,500 but not more than 5,000............................................................. 75,000
More than 5,000................................................................................................. 125,000
[Text not available]

3.

The account must not be obligated for any accrued liabilities and must consist of cash, securities or a combination thereof which is acceptable to the Commissioner.

Source: Section 695D.153 — Capital account: Minimum amount; requirements., https://www.­leg.­state.­nv.­us/NRS/NRS-695D.­html#NRS695DSec153.

695D.010
Definitions. 695D.020
“Commissioner” defined. 695D.030
“Dental care” defined. 695D.040
“Dentist” defined. 695D.050
“Member” defined. 695D.060
“Organization for dental care” defined. 695D.070
“Plan for dental care” defined. 695D.080
“Policy” defined. 695D.090
Applicability. 695D.095
Applicability of other provisions to organizations for dental care. 695D.100
Regulations of Commissioner. 695D.102
Summary of coverage: Contents of disclosure 695D.104
Summary of coverage: Copy to be provided before policy issued 695D.110
Certificate of authority: Required for plan for dental care. 695D.120
Certificate of authority: Application. 695D.130
Certificate of authority: Issuance. 695D.140
Certificate of authority: Notice of change of information 695D.150
Certificate of authority: Expiration 695D.153
Capital account: Minimum amount 695D.157
Hazardous financial condition: Regulations 695D.160
Composition of board of directors for organization for dental care. 695D.170
Bond or deposit required 695D.180
Bond payable to State 695D.190
Fiduciary responsibilities 695D.200
Policy: Issuance 695D.203
Group plan issued to replace discontinued policy or coverage: Requirements 695D.205
Copayments and deductibles. 695D.210
Coverage for newly born and adopted children and children placed for adoption. 695D.215
Claims: Approval or denial 695D.216
Required provision concerning coverage for services provided through telehealth. 695D.217
Organization for dental care prohibited from denying coverage solely because person was victim of domestic violence. 695D.219
Organization for dental care prohibited from denying coverage solely because member was intoxicated or under the influence of controlled substance 695D.220
Licensing of agents. 695D.225
Contracts between organization for dental care and dentist: Modification 695D.227
Prohibition of setting of fees by plan or organization for dental care other than covered services to members. 695D.230
Approval of advertising or materials used to solicit members. 695D.240
Limitation on expenses for marketing and administration. 695D.250
Reserves 695D.260
Annual report, financial statement and tax 695D.270
Examination of organization by Commissioner. 695D.280
Rehabilitation, liquidation or conservation. 695D.290
Trade practices and frauds. 695D.300
Disciplinary actions 695D.310
Notice of disciplinary action
Last Updated

Feb. 5, 2021

§ 695D.153’s source at nv​.us