§ 27-1-36-42.1 — Action by commissioner after mandatory control level event with respect to health maintenance organization or limited service health maintenance organization

Indiana § 27-1-36-42.1

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 36: Risk Based Capital Requirements

Text

1. (a) If a mandatory control level event
occurs with respect to a health maintenance organization or a limited
service health maintenance organization, the commissioner shall take
the action necessary to place the health maintenance organization or
limited service health maintenance organization under regulatory
control under IC 27-13.
(b) A mandatory control level event is sufficient grounds for the
commissioner to take action against a health maintenance organization
or a limited service health maintenance organization under IC 27-13
and the commissioner has the rights, powers, and duties with respect
to the health maintenance organization or limited service health
maintenance organization that are set forth in IC 27-13.
(c) If the commissioner takes action against a health maintenance
organization or a limited service health maintenance organization
under an adjusted RBC report, the health maintenance organization or
limited service health maintenance organization is entitled to the
protections under IC 27-9-2 pertaining to summary proceedings.
(d) The commissioner may forego action under subsections (a)
through (c) for not more than ninety (90) days after the mandatory
control level event if the commissioner finds that there is a reasonable
expectation that the mandatory control level event may be eliminated
within the ninety (90) day period.

Legislative History

As added by P.L.51-2002, SEC.9.