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§ 7-502. Security on acquisition of nonprofit health service plan or other insurer

West's Annotated Code of MarylandInsurance

West's Annotated Code of Maryland
Insurance (Refs & Annos)
Title 7. Maryland Insurance Acquisitions Disclosure and Control Act (Refs & Annos)
Subtitle 5. Acquisition of Health Service Plan (Refs & Annos)
MD Code, Insurance, § 7-502
§ 7-502. Security on acquisition of nonprofit health service plan or other insurer
Application of section
(a) This section applies to a nonprofit health service plan or insurer that is being merged or consolidated with or acquired by another person.
Current financing money provided for discounted hospital rates
(b) Current financing money that, in accordance with regulations adopted by the Health Services Cost Review Commission, is provided by a nonprofit health service plan or insurer to a hospital for discounted hospital rates is deemed to be security for the outstanding charges that the nonprofit health service plan or insurer owes to the hospital for bills or claims for services that the hospital provided before the merger, consolidation, or acquisition.

Credits

Added by Acts 1995, c. 36, § 1, eff. Oct. 1, 1997.
Formerly Art. 48A, § 503B.
MD Code, Insurance, § 7-502, MD INSURANCE § 7-502
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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