Section 21.87.270. Joint operations.

Latest version.

   (a) A hospital service corporation and a medical service corporation may operate under joint management for the purpose of reducing operating costs.
   (b) Separate records and accounts shall be kept for each corporation, and the funds and assets of one may not be commingled with those of the other; except that funds received from a joint billing to subscribers may be deposited in a common bank account for purposes of collection, if the records of each corporation at all times show the amount of the funds belonging to each and if final distribution of the funds is made to each corporation within 30 days from receipt of payment of the joint billing.

Notes

History

(Sec. 1 ch 120 SLA 1966)

                    
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