Common use of Statutory Termination Clause in Contracts

Statutory Termination. The Office of Insurance Regulation, pursuant to Florida Statute §641.234, may order Plan to cancel this Agreement if it determines that the fees to be paid by Plan are so unreasonably high as compared with similar contracts entered into by Plan or as compared with similar contracts entered by other HMO's in similar circumstances, such that this Agreement is detrimental to the Members, stockholders, investors or creditors of Plan.

Appears in 2 contracts

Sources: Global Capitation Agreement (Piper Acquisition II, Inc.), Global Capitation Agreement (Quantum Group Inc /Fl)