Sec. 198. "Self insurance", for purposes of IC 13-22-9, means the practice of meeting expenses when those expenses are incurred with financial resources that:
(1) were previously set aside for the purpose of meeting those expenses; or
(2) are not committed to another purpose;
rather than through a trust fund, a surety bond, a letter of credit, or an insurance policy.
[Pre-1996 Recodification Citation: 13-7-32-1.5.]
As added by P.L.1-1996, SEC.1.
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