§ 9-30-2-8 — Motor club card plans; guarantee to pay security in amount of fines and costs; fees; renewal; termination; distribution of lists of acceptable cards

(a) A motor club that is a domestic corporation
or a foreign corporation qualified to transact business in Indiana under
IC 23-1 or IC 23-17, or otherwise duly qualified to transact business in
Indiana under Indiana corporation law, may guarantee as security the
club's motor club card or any card of a motor club affiliated with the
motor club, if the motor club files a plan guaranteeing to pay the
security in the amount of the fine and costs. The ability to pay the
security in the amount of the fine and costs must be demonstrated by
evidence of the motor club's financial responsibility that must be:
(1) a balance sheet certified by a certified public accountant at the
end of the club's last available fiscal year showing net assets of
the motor club in excess of five hundred thousand dollars
($500,000); or
(2) a deposit by a surety company qualified to transact business
in Indiana of an annual bond in the amount of twenty-five
thousand dollars ($25,000) payable to the state guaranteeing, in
the amount of fines and costs, the motor club cards covered by the
plan when used as a security deposit.
(b) A motor club that is a foreign corporation not qualified to
transact business in Indiana under IC 23-1, IC 23-17, or any other
Indiana corporation law shall demonstrate the club's ability to
guarantee payment of the club's card or cards of an affiliated member
as a security deposit upon the filing of a plan with the secretary of state
guaranteeing payment of the fines and costs of the security and a
deposit, by a surety company qualified to transact business in Indiana,
of an annual bond in the amount of twenty-five thousand dollars
($25,000) payable to the state, guaranteeing, in the amount of fines and
costs, the motor club's cards covered by the plan when used as a
security deposit.
(c) A motor club must, upon filing a plan with the secretary of state,
pay a filing fee of fifty dollars ($50).
(d) A motor club must annually renew the club's motor card plan.
Renewal must be made by filing before May 1 of each year a new
certified balance sheet or surety bond together with a renewal fee of
fifty dollars ($50) with the secretary of state.
(e) An approved plan may be terminated by the motor club sixty
(60) days after written notice or termination has been delivered to the
secretary of state. Upon failure of a motor club to guarantee a security
deposit, the motor club plan may be terminated by the secretary of state
under IC 4-21.5-3.
(f) Termination by the secretary of state does not relieve a motor
club of the club's obligation to pay judgments on cards covered by the
club's plan and accepted as security as provided in this chapter. The
attorney general may bring an action for the state in an Indiana court
against a motor club to enforce an obligation.
(g) The secretary of state shall, by June 1 of each year and at other
times necessary for the administration of this section, prepare and
distribute to all courts having jurisdiction over minor traffic violations
and to the superintendent of the state police department lists of motor
club cards that may be accepted as a security deposit.
[Pre-1991 Recodification Citation: 9-4-1-132.5.]

Legislative History

As added by P.L.2-1991, SEC.18. Amended by P.L.1-2010, SEC.51.