33-22-1816. Commissioner powers and duties -- application for registration -- reporting insolvency. (1) The commissioner shall develop forms for registration of an organization as a voluntary purchasing pool.
     (2) An organization seeking to be registered as a voluntary purchasing pool shall make application to the commissioner. The commissioner shall register an organization as a voluntary purchasing pool upon proof of fulfillment of the qualifications provided in 33-22-1815.
     (3) On March 1 of each year, the voluntary purchasing pool shall provide a report and financial statement for the previous calendar year to the commissioner in order that the commissioner may determine:
     (a) whether the operation of the voluntary purchasing pool is fiscally sound;
     (b) whether the voluntary purchasing pool is bearing any risk; and
     (c) the number of individuals covered.
     (4) The annual report of the voluntary purchasing pool must disclose its total administrative cost.

     History: En. Sec. 3, Ch. 375, L. 1995.