1. (a) This section does not apply to a health maintenance organization or a limited service health maintenance organization that is a foreign corporation.
2. (b) As used in this section, "foreign corporation" means a corporation organized or reorganized under the law of a state or jurisdiction other than Indiana.

3. (c) A person may not acquire control, as that term is defined in IC 27-1-23-1 , of a health maintenance organization or a limited service health maintenance organization unless:

   1. (1) that person complies with the requirements of IC 27-1-23-2 ; and
   2. (2) the acquisition is approved by the commissioner under the procedure set forth in IC 27-1-23-2 .

As added by P.L.26-1994, SEC.25. Amended by P.L.185-1996, SEC.17; P.L.203-2001, SEC.30.