3 AAC 31.620 - Provider bond requirements
(a) A registration
will not be issued by the director unless the provider posts with the director
a bond in the amount of $100,000, issued by a corporate surety authorized under
AS 21 to act as surety and conditioned upon the provider's faithful fulfillment
of its membership agreements. The director will surrender the bond after the
provider has been registered in this state for two years.
(b) The bond requirements under (a) of this
section apply only to a provider who does not provide evidence satisfactory to
the director at the time the provider files its initial registration that the
provider has been in operation in this state for at least two
years.
Notes
Authority:AS 21.06.090
AS 21.61.105
AS 21.61.109
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