N.M. Admin. Code § 13.10.7.16 - TRANSACTIONS WITH PARTY-IN-INTEREST
With respect to any significant business transaction by the HMO with a party-in-interest:
A. The
HMO shall disclose to its policy-making body all material facts concerning the
transaction and the party-in-interest's interest in the transaction.
B. The policy-making body shall make such
facts and the policy-making body's actions, if any, part of its minutes or, if
no minutes are required of the policy-making body, shall otherwise make them a
record of the HMO.
C. The HMO shall
hand deliver or send by certified mail to the superintendent prior notice of
the transaction. Such notice shall be given with reasonable time for the
superintendent to object. The superintendent shall approve or disapprove such
transaction within 30 days after receipt of the notice, and if no approval or
disapproval has been granted within 30 days, the transaction shall be deemed
approved by the superintendent.
Notes
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