Indiana § 27-13-13-1 Items deposited; minimum value

Indiana Statutes

§ 27-13-13-1 — Items deposited; minimum value

Indiana·Title 27 INSURANCE·Art. 13 HEALTH MAINTENANCE ORGANIZATIONS·Ch. 13 Protection Against Insolvency; Deposit Requirements

Except as provided in this chapter, a health maintenance organization shall deposit with the commissioner or, at the discretion of the commissioner, with any bank or bank and trust company or other trustee acceptable to the commissioner through which a custodial or controlled account is used:

(1)cash;

(2)certificates of deposit;

(3)United States government obligations acceptable to the commissioner;

(4)any other securities acceptable to the commissioner; or

(5)a combination of items described in subdivisions (1) through

(4); which at all times must have a value of at least five hundred thousand dollars ($500,000).

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Except as provided in this chapter, a health
maintenance organization shall deposit with the commissioner or, at the
discretion of the commissioner, with any bank or bank and trust
company or other trustee acceptable to the commissioner through
which a custodial or controlled account is used:
(1) cash;
(2) certificates of deposit;
(3) United States government obligations acceptable to the
commissioner;
(4) any other securities acceptable to the commissioner; or
(5) a combination of items described in subdivisions (1) through
(4);
which at all times must have a value of at least five hundred thousand
dollars ($500,000).

Indiana § 27-13-13-1 (Items deposited; minimum value) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.