Sec 20-1063. Powers of insurers and hospital and medical service corporations

A. An insurer, or a hospital or medical service corporation, authorized to do business in this state either directly or through a subsidiary or an affiliate may organize and operate a health care services organization under the provisions of this article. Notwithstanding any other law to the contrary, any two or more such insurers, hospital or medical service corporations, or subsidiaries or affiliates thereof, may jointly organize and operate a health care services organization.

B. Any such insurer or hospital or medical service corporation may contract with a health care services organization to provide coverage in the event of the failure of the health care services organization to meet its obligations.

C. Any such insurer or hospital or medical service corporation which is in compliance with title 20 generally and which in the judgment of the director shall have complied with provisions of this title that are comparable to or more restrictive than the provisions of this article shall be deemed to have satisfied all provisions of this article and shall not be required to comply also in any specific manner with this article except sections 20-1051 through 20-1054 as the director shall deem appropriate, and except as per rules or regulations the director may promulgate to safeguard public health or safety.