Ind. Code § 27-13-26-1 Hazardous financial condition; corrective action ordered by commissioner
Sec. 1. (a) If the commissioner determines that:
(1) the financial condition of a health maintenance organization is such that the continued operation of the organization might be hazardous to:
(A) the subscribers, enrollees, or creditors of the organization; or
(B) the general public; or
(2) the organization has violated any provision of this article;
the commissioner may, after notice and hearing, order the health maintenance organization to take action reasonably necessary to rectify the condition or violation.
(b) An order of the commissioner under subsection (a) may require a health maintenance organization to do one (1) or more of the following:
(1) Reduce the total amount of present and potential liability for benefits by reinsurance or another method acceptable to the commissioner.
(2) Reduce the volume of new business being accepted.
(3) Reduce expenses by specified methods.
(4) Suspend or limit the writing of new business for a period of time.
(5) Increase the capital and surplus of the health maintenance organization by contribution.
(6) Take other steps the commissioner considers appropriate under the circumstances.
(c) The commissioner's order under this section may require items in addition to those set forth in subsection (b).
As added by P.L.26-1994, SEC.25.