Capital Surplus And Deposit Requirements

01. Amount. The following minimum capital fund apply, as per Section 41-3905(8), Idaho Code: (7-1-24) 02. Time. Within the following time periods after the organization becomes subject to the Act, in no event will the organization’s capital funds be less than: (7-1-24) a. Immediately upon becoming subject to the Act, the MCO’s minimum statutory deposit requirements is calculated as fifty percent (50%) of the amount of the organization’s Capital funds as calculated above up to a maximum of one million dollars ($1,000,000), but not less than two hundred thousand dollars ($200,000). The amount of the deposit so held by the Department is adjusted based on the organization’s December 31st and June 30th financial statement filings each year. In no event will the minimum prescribed statutory deposit amount be reduced. Upon notification by the Department of the necessary increase in the deposit amount, the organization will have no more than thirty (30) days to come into compliance with the prescribed amount. Failure to increase the deposit as prescribed will subject the organization to suspension or revocation of its certificate of authority pursuant to Section 41-326, Idaho Code. (3-31-22)