Sec. 2. Except as provided in section 3 of this chapter, a discount medical card program organization shall maintain in force a surety bond issued:
(1) by an insurer granted a certificate of authority under this title;
(2) in the discount medical card organization's name; and
(3) in an amount equal to at least thirty-five thousand dollars ($35,000);
for the commissioner's use in protecting the financial interest of a cardholder who may be adversely affected by the insolvency of the discount medical card program organization.
As added by P.L.73-2006, SEC.3.
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