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.
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