SB 112-4_ Filed 02/23/2006, 11:09 Brown T

Text Box

    PREVAILED      Roll Call No. _______
    FAILED        Ayes _______
    WITHDRAWN        Noes _______





    I move that Engrossed Senate Bill 112 be amended to read as follows:

SOURCE: Page 21, line 16; (06)MO011203.21. -->     Page 21, between lines 16 and 17, begin a new paragraph and insert:
SOURCE: ; (06)MO011203.53. -->     "SECTION 53. [EFFECTIVE JANUARY 1, 2006 (RETROACTIVE)] (a) As used in this SECTION, "net worth" has the meaning set forth in IC 27-13-12-1.
    (b) Notwithstanding IC 27-13-12, the department of insurance may accept from a health maintenance organization, instead of meeting the minimum net worth requirements, either:
        (1) a performance bond; or
        (2) a cash deposit;
in an amount equal to the difference between the minimum net worth requirement set forth in IC 27-13-12 and the risk based capital requirement imposed under IC 27-1-36.
    (c) This SECTION expires July 1, 2007.
    Renumber all SECTIONS consecutively.
    (Reference is to ESB 112 as printed February 17, 2006.)


Representative Brown T

MO011203/DI 14     2006