CHAPTER 9. FINANCIAL REQUIREMENTS

IC 27-17-9
    Chapter 9. Financial Requirements

IC 27-17-9-1
Application; exemption
    Sec. 1. This chapter does not apply to a person that is exemptfrom registration under IC 27-17-2.
As added by P.L.73-2006, SEC.3.

IC 27-17-9-2
Surety bond requirements
    Sec. 2. Except as provided in section 3 of this chapter, a discountmedical card program organization shall maintain in force a suretybond issued:
        (1) by an insurer granted a certificate of authority under thistitle;
        (2) in the discount medical card organization's name; and
        (3) in an amount equal to at least thirty-five thousand dollars($35,000);
for the commissioner's use in protecting the financial interest of acardholder who may be adversely affected by the insolvency of thediscount medical card program organization.
As added by P.L.73-2006, SEC.3.

IC 27-17-9-3
Option to maintain a deposit; income
    Sec. 3. (a) A discount medical card program organization may,instead of maintaining a surety bond under section 2 of this chapter,maintain a deposit with:
        (1) the commissioner; or
        (2) at the discretion of the commissioner, an organization or atrustee approved by the commissioner and using a custodial orcontrolled account;
cash, securities, a combination of cash and securities, or anothermeasure approved by the commissioner and having at all times amarket value equal to at least thirty-five thousand dollars ($35,000).
    (b) Income that results from a deposit made under subsection (a)is an asset of the discount medical card program organization.
As added by P.L.73-2006, SEC.3.

IC 27-17-9-4
Assets or securities not subject to levy
    Sec. 4. Assets or securities held in Indiana as a deposit under thischapter are not subject to levy by a judgment creditor or otherclaimant, except the commissioner, against the discount medical cardprogram organization.
As added by P.L.73-2006, SEC.3.