IC 27-13-13-7: Return of deposit

Sec. 7. If:

(1) a health maintenance organization ceases operation for reasons other than:

(A) insolvency; or

(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).