Volume 799, Page 2509 View pdf image |
ROBERT L. EHRLICH, JR., Governor Ch. 356 14-115. (a) (1) In this section the following words have the meanings indicated. (2) "Board" means the board of directors of a nonprofit health service (3) "Immediate family member" means a spouse, child, child's spouse, (b) [Subsections (c) through (f) of this section apply] THIS SECTION APPLIES (c) (1) The business and affairs of a nonprofit health service plan shall be (2) The board and its individual members are fiduciaries and shall act: (i) in good faith; (ii) in a manner that is reasonably believed to be in the best interests (III) IN A MANNER THAT IS REASONABLY BELIEVED TO BE IN [(iii)] (IV) with the care that an ordinarily prudent person in a like (3) THE PRINCIPAL FUNCTIONS OF THE BOARD SHALL INCLUDE: (I) ENSURING THAT THE CORPORATION EFFECTIVELY CARRIES (II) SELECTING CORPORATE MANAGEMENT AND EVALUATING ITS (III) ENSURING TO THE EXTENT PRACTICABLE THAT HUMAN (IV) SUBJECT TO THE PROVISIONS OF SUBSECTION (D) OF THIS (V) ESTABLISHING A SYSTEM OF GOVERNANCE AT THE BOARD (4) EACH MEMBER OF THE BOARD SHALL DEMONSTRATE A - 2509 -
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Volume 799, Page 2509 View pdf image |
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