31A-8-211. Deposit.
(1) Except as provided in Subsection, each health maintenance organization authorized in this state shall maintain a deposit with the commissioner under Sectionin an amount equal to the sum of: (2) 31A-2-206 $100,000; and 50% of the greater of: $900,000; 2% of the annual premium revenues as reported on the most recent annual financial statement filed with the commissioner; or an amount equal to the sum of three months uncovered health care expenditures as reported on the most recent financial statement filed with the commissioner.
(2) The commissioner may exempt a health maintenance organization from the deposit requirement of Subsectionif: (1) the commissioner determines that the enrollees' interests are adequately protected; the health maintenance organization has been continuously authorized to do business in this state for at least five years; and the health maintenance organization has $5,000,000 surplus in excess of the health maintenance organization's company action level RBC as defined in Subsection. 31A-17-601(8)(b) The commissioner may rescind an exemption given under Subsection. (2)(a)
(3) Subject to Subsection, each limited health plan authorized in this state shall maintain a deposit with the commissioner under Sectionin an amount equal to the minimum capital or permanent surplus plus 50% of the greater of: (3)(c) 31A-2-206.5 times minimum required capital or minimum permanent surplus; or during the first year of operation, 10% of the limited health plan's projected uncovered expenditures for the first year of operation; during the second year of operation, 12% of the limited health plan's projected uncovered expenditures for the second year of operation; during the third year of operation, 14% of the limited health plan's projected uncovered expenditures for the third year of operation; during the fourth year of operation, 18% of the limited health plan's projected uncovered expenditures during the fourth year of operation; or during the fifth year of operation, and during all subsequent years, 20% of the limited health plan's projected uncovered expenditures for the previous 12 months. Projections of future uncovered expenditures shall be established in a manner that is approved by the commissioner. This Subsectiondoes not apply to an ambulance membership organization. (3)
(4) A deposit required by this section may be counted toward the minimum capital or minimum permanent surplus required under Section. 31A-8-209