Sec. 12. The following may be an account administrator under this chapter:
(1) A federal or state chartered:
(A) bank;
(B) savings association;
(C) savings bank; or
(D) credit union.
(2) A trust company authorized to act as a fiduciary.
(3) An insurance company or a health maintenance organization authorized to do business in Indiana under IC 27.
(4) A broker-dealer, an agent, or an investment advisor registered under IC 23-19.
(5) A person that is licensed as an administrator under IC 27-1-25.
(6) An employee welfare benefit plan that is governed by the federal Employee Retirement Income Security Act, 29 U.S.C. 1001 et seq.
(7) An employer that participates in the medical care savings account program.