Indiana § 23-2-4-15 Board; submission and approval of plan of operation; contents of plan;
adoption of rules

Indiana Statutes

§ 23-2-4-15 — Board; submission and approval of plan of operation; contents of plan; adoption of rules

Indiana § 23-2-4-15

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 2SECURITIES AND FRANCHISES

Ch. 4Supervision of Continuing Care Contracts

This text of Indiana § 23-2-4-15 (Board; submission and approval of plan of operation; contents of plan; adoption of rules) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-2-4-15 (2026).

Text

(a)The board of directors shall submit to the commissioner a plan of operation, and such subsequent amendments to the plan as are necessary to assure the fair, reasonable, and equitable administration of the fund. The plan of operation is effective upon the commissioner's approval, which must be in writing.

(b)If the board of directors fails to submit by September 1, 1983, a plan of operation considered suitable by the commissioner, or, if at any other time the board of directors fails to submit amendments to the plan considered necessary by the commissioner, the commissioner shall adopt rules under IC 4-22-2 necessary to carry out this chapter. The rules continue in force until modified by the commissioner or superseded by a plan submitted by the board of directors and approved by the c

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(a) The board of directors shall submit to the
commissioner a plan of operation, and such subsequent amendments
to the plan as are necessary to assure the fair, reasonable, and equitable
administration of the fund. The plan of operation is effective upon the
commissioner's approval, which must be in writing.
(b) If the board of directors fails to submit by September 1, 1983, a
plan of operation considered suitable by the commissioner, or, if at any
other time the board of directors fails to submit amendments to the plan
considered necessary by the commissioner, the commissioner shall
adopt rules under IC 4-22-2 necessary to carry out this chapter. The
rules continue in force until modified by the commissioner or
superseded by a plan submitted by the board of directors and approved
by the commissioner.
(c) The plan of operation shall establish:
(1) procedures for handling the assets of the fund;
(2) the method of reimbursing members of the board of directors
under section 14 of this chapter;
(3) regular places and times for meetings of the board of directors;
(4) recordkeeping procedures for all financial transactions relating
to the fund and the board of directors; and
(5) any additional provisions necessary for the execution of the
powers and duties of the board of directors.
As added by Acts 1982, P.L.145, SEC.1. Amended by
P.L.3-2008, SEC.166.