760 IAC 1-75-12 - Termination

Authority: IC 20-42.5-2-1

Affected: IC 20-42.5-2-1

Sec. 12.

If a risk pool is terminated for any reason, the trust may not be dissolved until all outstanding financial obligations of the risk pool are paid. The risk pool shall retain sufficient funds to provide coverage for an additional period as the trustees of the risk pool consider prudent. The trustees may purchase additional insurance for protection against potential future claims. Any funds remaining in the risk pool after satisfaction of all obligations must be paid to risk pool participants in an equitable manner approved by the commissioner.

Notes

760 IAC 1-75-12

Department of Insurance; 760 IAC 1-75-12; filed Apr 14, 2008, 10:28 a.m.: 20080514-IR-760070144FRA Readopted filed 11/17/2014, 3:39 p.m.: 20141217-IR-760140197RFA Readopted filed 11/24/2020, 10:27 a.m.: 20201223-IR-760200464RFA