CHAPTER 5. FIDUCIARY RESPONSIBILITIES

IC 27-13-5
    Chapter 5. Fiduciary Responsibilities

IC 27-13-5-1
Persons having fiduciary responsibilities
    Sec. 1. Any:
        (1) director;
        (2) officer;
        (3) employee; or
        (4) partner;
of a health maintenance organization who receives, collects,disburses, or invests funds in connection with the activities of theorganization has a fiduciary responsibility to the organization for thefunds.
As added by P.L.26-1994, SEC.25.

IC 27-13-5-2
Fidelity bond or fidelity insurance
    Sec. 2. A health maintenance organization shall maintain in forcea fidelity bond or fidelity insurance on the directors, officers,employees, and partners referred to in section 1 of this chapter:
        (1) in an amount:
            (A) not less than two hundred and fifty thousand dollars($250,000) for each health maintenance organization; or
            (B) not more than five million dollars ($5,000,000) in theaggregate on behalf of all health maintenance organizationsowned by a common parent organization; or
        (2) in an amount prescribed by the commissioner.
As added by P.L.26-1994, SEC.25.