Ind. Code § 27-17-9-3
Option to maintain a deposit; income
Indiana · Indiana Code Title 27 — Insurance · Status: effective
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- Ind. Code § 27-17-9-3, Option to maintain a deposit; income, Indiana, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1665403
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Full text
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:
(1) the commissioner; or
(2) at the discretion of the commissioner, an organization or a trustee approved by the commissioner and using a custodial or controlled account;
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.