Indiana § 25-22.5-16-13 Annual assessments; financial audit

Indiana Statutes

§ 25-22.5-16-13 — Annual assessments; financial audit

Indiana § 25-22.5-16-13

Title 25PROFESSIONS AND OCCUPATIONS

Art. 22.5PHYSICIANS

Ch. 16Interstate Medical Licensure Compact

This text of Indiana § 25-22.5-16-13 (Annual assessments; financial audit) 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 § 25-22.5-16-13 (2026).

Text

(a)The interstate commission may levy on and collect an annual assessment from each member state to cover the cost of the operations and activities of the interstate commission and its staff. The total assessment must be sufficient to cover the annual budget approved each year for which revenue is not provided by other sources. The aggregate annual assessment amount shall be allocated upon a formula to be determined by the interstate commission, which shall adopt a rule binding upon all member states.

(b)The interstate commission shall not incur obligations of any kind prior to securing the funds adequate to meet the same.

(c)The interstate commission shall not pledge the credit of any of the member states, except by, and with the authority of, the member state.

(d)The interstate commi

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(a) The interstate commission may levy
on and collect an annual assessment from each member state to cover
the cost of the operations and activities of the interstate commission
and its staff. The total assessment must be sufficient to cover the
annual budget approved each year for which revenue is not provided
by other sources. The aggregate annual assessment amount shall be
allocated upon a formula to be determined by the interstate
commission, which shall adopt a rule binding upon all member states.
(b) The interstate commission shall not incur obligations of any kind
prior to securing the funds adequate to meet the same.
(c) The interstate commission shall not pledge the credit of any of
the member states, except by, and with the authority of, the member
state.
(d) The interstate commission shall be subject to a yearly financial
audit conducted by a certified or licensed public accountant and the
report of the audit shall be included in the annual report of the
interstate commission.