SOURCE: Page 1, line 1; (04)MO115719.1. -->
Page 1, delete lines 1 through 17.
Delete page 2.
Page 6, line 41, delete "," and insert " under IC 20-5-2.7,
Page 7, line 7, delete "," and insert " under IC 20-5-2.7,
Page 9, line 39, after "and" insert " , except as provided in this
Page 10, line 6, delete "at the beginning of each fiscal year".
Page 10, line 6, delete "a contribution" and insert " contributions
Page 10, line 9, delete "Annual contributions" and insert
Page 10, between lines 17 and 18, begin a new paragraph and insert:
" (d) Contributions to the self-insurance fund under subsection
(b) may be collected on an annual, a quarterly, or a monthly basis,
as determined by the governing authority of the cooperative
Page 11, between lines 7 and 8, begin a new paragraph and insert:
" (c) The following must be submitted to and approved by the
commissioner before a cooperative program may commence
(1) The interlocal agreement described in subsection (a).
(2) The bylaws described in subsection (b).
(3) The cooperative program's method of determining:
(C) limits of self-insured risk; and
(D) sufficient specific insurance coverage and aggregate
and all background information and data used in making the
(4) Any other information determined necessary by the
Information submitted to the commissioner under this subsection
(d) If the commissioner does not disapprove any of the items
specified in subsection (c) earlier than sixty (60) days after the
items are submitted to the commissioner, the items are considered
Page 12, between lines 22 and 23, begin a new paragraph and insert:
" (e) A cooperative program is subject to IC 27-9.
Page 12, line 40, after "17." insert " (a) The commissioner shall
establish the following for a cooperative program:
(1) Appropriate aggregate insurance coverage levels.
(2) Appropriate specific insurance coverage levels.
(3) Sufficient reserve levels in the self-insurance fund.
(5) Any additional financial reporting.
(6) Fidelity bonds.
(b) The commissioner shall examine a cooperative program at
least one (1) time every five (5) years to assure compliance with
requirements established by or under this chapter.
Page 13, delete lines 21 through 27, begin a new paragraph and
SECTION 4. IC 27-9-1-1, AS AMENDED BY P.L.5-2000,
SECTION 1, IS AMENDED TO READ AS FOLLOWS [EFFECTIVE
UPON PASSAGE]: Sec. 1. Proceedings under this article apply to the
(1) All insurers who are doing, or who have done, insurance
business in Indiana, and against whom claims arising from that
business may exist.
(2) All insurers who purport to do insurance business in Indiana.
(3) All insurers who have insureds resident in Indiana.
(4) All other persons organized or in the process of organizing
with the intent to do an insurance business in Indiana.
(5) All nonprofit service plans, fraternal benefit societies, and
(6) All title insurance companies.
(7) All health maintenance organizations under IC 27-13.
(8) All multiple employer welfare arrangements under
(9) All limited service health maintenance organizations under
(10) All mutual insurance holding companies under IC 27-14.
(11) All cooperative programs established under IC 20-5-2.7.
Renumber all SECTIONS consecutively.
(Reference is to HB 1157 as printed January 30, 2004.)
MO115719/DI 97 2004