The commissioner shall require a health maintenance organization to have a plan for handling receivership that allows for the continuation of benefits after the date of receivership:

1. (1) for the duration of the contract period for which premiums have been paid; or

2. (2) if an enrollee is hospitalized on the date of receivership for the longer of:

   1. (A) the period ending when the enrollee is discharged from hospitalization; or
   2. (B) the duration of the contract period for which premiums have been paid.

As added by P.L.26-1994, SEC.25. Amended by P.L.83-2003, SEC.1.