Indiana Code 27-17-9-3. Option to maintain a deposit; income
Current as of: 2024 | Check for updates
|
Other versions
Sec. 3. (a) A discount medical card program organization may, instead of maintaining a surety bond under section 2 of this chapter, maintain a deposit with:
(2) at the discretion of the commissioner, an organization or a trustee approved by the commissioner and using a custodial or controlled account;
(1) the commissioner; or
Terms Used In Indiana Code 27-17-9-3
- Trustee: A person or institution holding and administering property in trust.
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.
As added by P.L.73-2006, SEC.3.