Sec. 4. (a) The administrator shall pay ELTF claims that are:
(1) for costs related to eligible releases;
(2) submitted by eligible parties; and
(3) submitted in accordance with IC 13-23-8 and IC 13-23-9.
(b) An eligible party may assign the right to receive payment of an ELTF claim to another person.
(c) Not more than forty-five (45) business days after an ELTF claim is submitted, the administrator shall do one (1) of the following:
(1) Approve the ELTF claim and, under IC 13-23-9-2(c), forward the ELTF claim to the state comptroller for payment.
(2) Send to the claimant a written notice that:
(A) states that a correction, a clarification, or additional information is needed before the ELTF claim can be approved; and
(B) provides a clear explanation:
(i) of the correction, clarification, or additional information that is needed; and
(ii) of why it is needed.
(3) Deny the claim and provide the claimant with a statement of the reasons for the denial under IC 13-23-9-2(b).