N.D. Admin Code 92-01-02-55 - Dividend programs
The organization may offer dividends to qualifying employers. Eligibility and distribution:
1.
Dividends are not guaranteed.
2. If
an employer's account has been in effect for less than an entire premium year,
any dividend offered shall be prorated by the number of months the employer's
account has been active with the organization. Premiums paid and losses
incurred during a dividend review period defined by the organization, and other
criteria identified by the organization, may be used to determine the amount of
the dividend. Minimum premium and volunteer accounts are not eligible for
dividend payments.
3. The
organization shall offset past-due balances on any account by the dividend
earned on that account.
4. A
dividend is distributed in the form of a premium credit to an employer's
account and may not reduce an employer's premium below the minimum premium. No
monetary disbursements of dividends can be made by the organization.
5. An employer who is noncompliant,
delinquent, uninsured, or who has failed to submit a payroll report may be
ineligible for a dividend for the payroll period following the year in which
the employer was noncompliant, delinquent, uninsured, or failed to submit a
payroll report.
Notes
General Authority: NDCC 65-02-08
Law Implemented: NDCC 65-04-19.3
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