CHAPTER 5. FIDUCIARY RESPONSIBILITIES
IC 27-13-5
Chapter 5. Fiduciary Responsibilities
IC 27-13-5-1
Persons having fiduciary responsibilities
Sec. 1. Any:
(1) director;
(2) officer;
(3) employee; or
(4) partner;
of a health maintenance organization who receives, collects,
disburses, or invests funds in connection with the activities of the
organization has a fiduciary responsibility to the organization for the
funds.
As added by P.L.26-1994, SEC.25.
IC 27-13-5-2
Fidelity bond or fidelity insurance
Sec. 2. A health maintenance organization shall maintain in force
a fidelity bond or fidelity insurance on the directors, officers,
employees, and partners referred to in section 1 of this chapter:
(1) in an amount:
(A) not less than two hundred and fifty thousand dollars
($250,000) for each health maintenance organization; or
(B) not more than five million dollars ($5,000,000) in the
aggregate on behalf of all health maintenance organizations
owned by a common parent organization; or
(2) in an amount prescribed by the commissioner.
As added by P.L.26-1994, SEC.25.