Indiana § 27-17-9-3 Option to maintain a deposit; income

Indiana Statutes

§ 27-17-9-3 — Option to maintain a deposit; income

Indiana § 27-17-9-3

Title 27INSURANCE

Art. 17DISCOUNT MEDICAL CARD PROGRAM

Ch. 9Financial Requirements

This text of Indiana § 27-17-9-3 (Option to maintain a deposit; income) 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 § 27-17-9-3 (2026).

Text

(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 a trustee approved by the commissioner and using a custodial or controlled account; cash, securities, a combination of cash and securities, or another measure approved by the commissioner and having at all times a market 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.

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(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 a
trustee approved by the commissioner and using a custodial or
controlled account;
cash, securities, a combination of cash and securities, or another
measure approved by the commissioner and having at all times a
market 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.