1. (a) A small employer insurer may elect to become a member of the program by filing a written intention to participate with the commissioner not later than sixty (60) days after the:

   1. (1) board submits a plan of operation to the commissioner and the commissioner adopts the plan under section 8 of this chapter; or

   2. (2) commissioner establishes a temporary plan of operation for the program under section 9 of this chapter;

      whichever occurs first.

2. (b) A small employer insurer that fails to become a member of the program under subsection (a) may only become a member by filing a written intention with the commissioner to participate in the program:

   1. (1) three (3) years; or

   2. (2) at the end of any three (3) year interval;

      after the program begins under subsection (a)(1) or (a)(2).

3. (c) Notwithstanding subsections (a) and (b), the commissioner may permit a small employer insurer to become a member of the program at other times for reasons based on financial solvency.

As added by P.L.193-1996, SEC.1.