Indiana Code
Chapter 34. Limited Service Health Maintenance Organizations
27-13-34-18. Fidelity Bonds; Deposit in Place of Bond

Sec. 18. (a) Except as provided in subsection (c), a limited service health maintenance organization shall maintain in force a fidelity bond in its own name on its officers and employees:
(1) in an amount not less than fifty thousand dollars ($50,000); or
(2) in any other amount prescribed by the commissioner.
(b) The fidelity bond required by this section must be issued by an insurance company not affiliated in any way with the limited service health maintenance organization, that is licensed to do business in Indiana. However, if a fidelity bond is not available from an insurance company that holds a certificate of authority in Indiana, a limited service health maintenance organization may satisfy the requirement of this section by maintaining a fidelity bond procured by a surplus lines insurance producer not affiliated in any way with the limited service health maintenance organization who holds a license issued under IC 27-1-15.8.
(c) Instead of maintaining a fidelity bond under subsection (a), a limited service health maintenance organization may deposit with the commissioner:
(1) cash;
(2) certificates of deposit;
(3) United States government obligations acceptable to the commissioner;
(4) any other securities acceptable to the commissioner of the types referred to in IC 27-13-11-1; or
(5) a combination of the items described in subdivisions (1) through (4).
A deposit made under this subsection is in addition to any other required deposit, and must also be maintained in joint custody with the commissioner in the amount and subject to the same conditions required for a fidelity bond under this section.
As added by P.L.26-1994, SEC.25. Amended by P.L.132-2001, SEC.19; P.L.178-2003, SEC.87.

Structure Indiana Code

Indiana Code

Title 27. Insurance

Article 13. Health Maintenance Organizations

Chapter 34. Limited Service Health Maintenance Organizations

27-13-34-0.1. Application of Certain Amendments to Chapter

27-13-34-1. "Enrollee" Defined

27-13-34-2. "Evidence of Coverage" Defined

27-13-34-3. "Limited Health Services" Defined

27-13-34-4. "Limited Service Health Maintenance Organization" Defined

27-13-34-5. "Provider" Defined

27-13-34-6. "Subscriber" Defined

27-13-34-7. Certificate of Authority Required; Foreign Entities

27-13-34-8. Application for Certificate of Authority; Requirements

27-13-34-9. Issuance of Certificate of Authority; Application Deficiencies; Denial of Application

27-13-34-10. Powers of Limited Service Health Maintenance Organization

27-13-34-11. Modification of Documents; Filing; Disapproval

27-13-34-12. Applicable Statutes

27-13-34-13. Evidence of Coverage; Required Information

27-13-34-14. Examinations by Commissioner

27-13-34-15. Required Contract Terms and Conditions; Exemptions

27-13-34-16. "Net Worth" and "Uncovered Expense" Defined; Computation of Net Worth; Minimum Net Worth

27-13-34-17. Required Deposit

27-13-34-18. Fidelity Bonds; Deposit in Place of Bond

27-13-34-19. Annual Reports; Additional Reports

27-13-34-20. Suspension or Revocation of Certificate of Authority

27-13-34-21. Chapter Violations; Fines and Penalties

27-13-34-22. Supervision, Rehabilitation, or Liquidation; Remedies and Measures

27-13-34-23. Fees

27-13-34-24. Dental Care Services and Director; Review of Adverse Decisions; Complaints

27-13-34-26. Complaints; Records