MN SF4837

Health maintenance organizations are subject to insurance regulations in Minnesota Statutes sections 60A.135, 60A.136, 60A.137, 60A.16, 60A.161, 60D.17, 60D.18, and 60D.20, with the commissioner of health serving as the regulatory authority instead of the commissioner of insurance.

Persons acquiring all or substantially all assets of a domestic nonprofit health maintenance organization must file a statement with the commissioner of health and obtain approval before the agreement is entered into, treating such acquisitions as acquisitions of control under section 60D.17.

Nonprofit health service plan corporations and health maintenance organizations must notify the attorney general of their intent to dissolve, merge, consolidate, convert, or transfer at least 10 percent of their assets.

Organizations must wait 45 days after notifying the attorney general before transferring assets or converting, unless the attorney general waives the waiting period; for transfers of at least 10 percent of assets, the attorney general may hold a public hearing within 30 days that must occur before waiving the waiting period.

After asset transfer following expiration or waiver of the waiting period, the board must deliver to the attorney general a list of persons receiving assets, including their addresses and descriptions of assets received.