CHAPTER 6. FINANCIAL REQUIREMENTS

IC 27-16-6
    Chapter 6. Financial Requirements

IC 27-16-6-1
Maintenance of minimum net worth or bond
    Sec. 1. (a) A PEO shall maintain either:
        (1) subject to section 2 of this chapter, a minimum net worth offifty thousand dollars ($50,000); or
        (2) subject to subsection (b), a bond with a market value of atleast fifty thousand dollars ($50,000).
    (b) A bond described in subsection (a)(2) must be held by adepository designated by the department, securing payment by thePEO of all taxes, wages, benefits, or other entitlement due to or withrespect to covered employees in the event that the PEO does notmake the payments when due.
As added by P.L.245-2005, SEC.7.

IC 27-16-6-2
Bond not included in calculation of minimum net worth
    Sec. 2. A bond described in section 1(a)(2) of this chapter mustnot be included in the calculation of the minimum net worthdescribed in section 1(a)(1) of this chapter.
As added by P.L.245-2005, SEC.7.