Indiana Code 27-13-13-7. Return of deposit
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Sec. 7. If:
(A) insolvency; or
(1) a health maintenance organization ceases operation for reasons other than:
Terms Used In Indiana Code 27-13-13-7
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(B) receivership;
(2) the organization is not a debtor in any pending bankruptcy proceeding;
(3) the health maintenance organization submits a request in writing to the commissioner for the return of the deposit made by the organization; and
(4) the health maintenance organization has furnished the commissioner with written proof that all claims liabilities of the health maintenance organization have been paid;
the commissioner shall return all or a part of the deposit to the health maintenance organization not more than thirty (30) days after the commissioner receives written proof from the organization under subdivision (4).
As added by P.L.26-1994, SEC.25.