Sec. 7. If: (1) a health maintenance organization ceases operation for reasons other than: (A) insolvency; or (B) receivership; (2) the organization is not a debtor in any pending bankruptcy proceeding; (3) the health maintenance organization submits a request in writing to the commissioner for the return of the deposit made by the organization; and (4) the health maintenance organization has furnished the commissioner with written proof that all claims liabilities of the health maintenance organization have been paid; the commissioner shall return all or a part of the deposit to the health maintenance organization not more than thirty (30) days after the commissioner receives written proof from the organization under subdivision (4).
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