When a health maintenance organization authorized pursuant to this chapter merges or consolidates with an insurer or a nonprofit hospital, medical or health care service organization and operations of the surviving entity include those of a health maintenance organization, the surviving entity succeeds on a continuing basis to the authority possessed by the merging entities if:

1. 1. Plan approved The superintendent has approved the plan of merger or consolidation, pursuant to section 4203, subsection 1;

   [PL 1993, c. 702, Pt. A, §13 (NEW).]

2. 2. Entity financially qualified The entity is financially qualified pursuant to the provisions of sections 410 and 4204‑A; and

   [PL 1993, c. 702, Pt. A, §13 (NEW).]

3. 3. Entity otherwise qualified The entity is otherwise qualified pursuant to this chapter.

   [PL 1993, c. 702, Pt. A, §13 (NEW).]

PL 1993, c. 702, §A13 (NEW).