Indiana Code 35-46-7-3. Regulated transactions; requirement that transaction be executed in writing; penalty
(1) A gift, a donation, a loan, or an investment from a person who receives services from a health care provider to:
Terms Used In Indiana Code 35-46-7-3
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- health care provider: means :
Indiana Code 35-46-7-1
- in writing: include printing, lithographing, or other mode of representing words and letters. See Indiana Code 1-1-4-5
- Power of attorney: A written instrument which authorizes one person to act as another's agent or attorney. The power of attorney may be for a definite, specific act, or it may be general in nature. The terms of the written power of attorney may specify when it will expire. If not, the power of attorney usually expires when the person granting it dies. Source: OCC
(B) an owner, employee, or agent of the health care provider.
(2) A loan or an investment from a person who receives services from a health care provider to the health care provider in the corporate name of the health care provider.
(b) A transaction under subsection (a) must be executed by a competent person (including a person other than the health care provider exercising a durable power of attorney on behalf of the donor) in writing and witnessed by two (2) disinterested parties. Each witness shall sign a document that describes the transaction in the presence of:
(1) the person who makes the transaction; and
(2) the other witness.
(c) A health care provider, or an owner, an employee, or an agent of a health care provider, who:
(1) receives a gift, a donation, a loan, or an investment from a person who receives services from a health care provider; and
(2) fails to comply with the requirements of subsection (b);
commits a Class A infraction. Without regard to the amount of the transaction, the court that imposes the penalty for the infraction violation may, upon the request of the prosecuting attorney, order the person to return assets or repay money received in violation of this section, plus interest from the date of the transaction, to the person who made the gift, donation, loan, or investment. In addition, if the court finds that the person knowingly violated the requirements of subsection (b), the court may order the person to pay treble damages and reasonable attorney’s fees.
As added by P.L.139-2002, SEC.1.