Allows nonprofit health care service corporations to reorganize under the control of a nonprofit holding company.

This bill authorizes a health care service corporation to reorganize under the control of a nonprofit holding corporation. It allows the nonprofit holding corporation to manage and invest in various entities, including insurers, and to make necessary transfers and distributions. The bill establishes operational and reporting requirements for nonprofit holding corporations and their subsidiaries, including annual filings with the Department of Insurance. It also outlines the status and authority of the health care service corporation and the nonprofit holding corporation post-reorganization.

Allows nonprofit health care service corporations to reorganize under the control of a nonprofit holding company.

This bill authorizes a health care service corporation to reorganize under the control of a nonprofit holding corporation. It allows the nonprofit holding corporation to manage and invest in various entities, including insurers, and to make necessary transfers and distributions. The bill establishes operational and reporting requirements for nonprofit holding corporations and their subsidiaries, including annual filings with the Department of Insurance. It also outlines the status and authority of the health care service corporation and the nonprofit holding corporation post-reorganization.