Indiana Code 27-13-12-2. Initial minimum net worth
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Sec. 2. Before issuing a certificate of authority to a health maintenance organization, the commissioner shall require that the health maintenance organization:
(2) maintain, after issuance of the certificate, at least the minimum net worth required under section 3 of this chapter.
(1) have an initial net worth of at least one million five hundred thousand dollars ($1,500,000); and
Terms Used In Indiana Code 27-13-12-2
- net worth: means the excess of total assets over total liabilities, excluding liabilities that have been subordinated in a manner acceptable to the commissioner. See Indiana Code 27-13-12-1
As added by P.L.26-1994, SEC.25.