{"data":{"id":"us-in/ic-27-13-12-5","jurisdiction":"us-in","citation":"IC 27-13-12-5","heading":"Consideration of debts","body":"Sec. 5. (a) In determining net worth under this chapter, a debt may not be considered fully subordinated unless:\n(1) the subordination clause is in a form acceptable to the commissioner; and\n(2) any interest obligation relating to the repayment of the subordinated debt is subordinated under a clause that is in a form acceptable to the commissioner.\n(b) The interest expense relating to the repayment of any fully subordinated debt is considered a covered expense.\n(c) Any debt that:\n(1) is incurred through a note that meets the requirements of this chapter; and\n(2) is otherwise acceptable to the commissioner;\nmay not be considered liability and must be recorded as equity.","path":["TITLE 27. INSURANCE","ARTICLE 13. HEALTH MAINTENANCE ORGANIZATIONS","Chapter 12. Protection Against Insolvency; Net Worth Requirements"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-13-12-5","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"d4fcd612c82d6f42734d990ab9fefb69b45ca593c32d13726ca80d2594dd7cf0","source_id":"us-in","stale":false,"prev":"us-in/ic-27-13-12-4","next":"us-in/ic-27-13-12-6"},"notice":"GroundRules: Original legal text. Not legal advice."}