{"data":{"id":"us-in/ic-27-13-24-2","jurisdiction":"us-in","citation":"IC 27-13-24-2","heading":"Deficient net worth","body":"Sec. 2. (a) If the commissioner finds that the net worth maintained by a health maintenance organization subject to this article is less than the minimum net worth required by IC 27-13-12, the commissioner shall:\n(1) give written notice to the health maintenance organization of the amount of the deficiency; and\n(2) require the health maintenance organization to:\n(A) file with the commissioner a plan for correction of the deficiency that is acceptable to the commissioner; and\n(B) correct the deficiency within a reasonable time, not to exceed sixty (60) days, unless an extension of time, not to exceed an additional sixty (60) days, is granted by the commissioner.\n(b) A deficiency described in subsection (a) is an impairment, and the failure of a health maintenance organization to correct the impairment in the time prescribed by the commissioner under subsection (a) is grounds for:\n(1) the suspension or revocation of the certificate of authority of the organization; or\n(2) placing the health maintenance organization in rehabilitation or liquidation.","path":["TITLE 27. INSURANCE","ARTICLE 13. HEALTH MAINTENANCE ORGANIZATIONS","Chapter 24. Suspension, Revocation, or Denial of Certificate of Authority"],"source_url":"https://iga.in.gov/ic/2026/Title_27.html#27-13-24-2","current_through":"2026","vintage":"2026","retrieved_at":"2026-09-25T05:39:04Z","sha256":"6a6fa6be5ddf609c55bd5b5d3e83d4639626626d8e94aa99e0b0747e2ba6e46b","source_id":"us-in","stale":false,"prev":"us-in/ic-27-13-24-1","next":"us-in/ic-27-13-24-3"},"notice":"GroundRules: Original legal text. Not legal advice."}