Indiana Code 27-13-12-4. Net worth schedule
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Sec. 4. A health maintenance organization licensed before July 1, 1994, must maintain a net worth equal to the following:
(2) Fifty percent (50%) of the amount required under section 3 of this chapter by December 31, 1995.
(1) Twenty-five percent (25%) of the amount required under section 3 of this chapter by December 31, 1994.
Terms Used In Indiana Code 27-13-12-4
- 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
(3) Seventy-five percent (75%) of the amount required under section 3 of this chapter by December 31, 1996.
(4) One hundred percent (100%) of the amount required under section 3 of this chapter by December 31, 1997.
As added by P.L.26-1994, SEC.25.