50 Ill. Adm. Code 4521.90
Conflict of Interest and Required Disclosure
Section 5421
Section 4521.90Â Conflict of
Interest and Required Disclosure
Each applicant for a Certificate
of Authority shall file with the application, and shall immediately file any
changes thereafter, disclosure of the following:
a)Â Â Â Â Â Â Â Â Any contractual or financial arrangements between members of
the Board of Directors/principal officers and the HMO, including:
1)Â Â Â Â Â Â Â Â A description of any obligation, specified by contract or
otherwise, to be met by each party in accordance with any such arrangements;
and
2)Â Â Â Â Â Â Â Â A listing of the dollar amounts of any consideration to be
paid each party in accordance with any such arrangements.
b)Â Â Â Â Â Â Â Â Any financial arrangements between members of the Board of
Directors/principal officers and any provider or other person who also has a
financial relationship with the HMO. This disclosure shall include:
1)Â Â Â Â Â Â Â Â A description of the obligations to be met by each party in
accordance with any financial arrangements;
2)Â Â Â Â Â Â Â Â A listing of the dollar amounts of the consideration to be
paid each party in accordance with the arrangements; and
3)Â Â Â Â Â Â Â Â A listing and description of any circumstances under which a
director/principal officer is employed by or engages in a substantial
commercial or professional relationship with any provider/other person.
c)Â Â Â Â Â Â Â Â All directors, officers and executive directors, and/or any
individual in a position of similar responsibility or any other individual, as
required by the Director, shall submit a biographical statement in a form
prescribed by the Director.
d)Â Â Â Â Â Â Â Â A general description of the arrangements for providing
compensation to agents. Â For purposes of this subsection, compensation means
any salary, commissions, incentives, emoluments, or any other item or event of
value paid or payable to an agent and related to the performance of duties of
an agent.