Section 374.162

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

Chapter 374

Effective - 28 Aug 1993   

  374.162.  Insurance examiners fund, established — assessments against insurer, how determined, when. — 1.  There is hereby established a fund for the examination expenses to be paid pursuant to section 374.160, to be known as the "Insurance Examiners Fund".  There shall be an amount assessed against all insurers, health services corporations and health maintenance organizations which are engaged in the business of insurance within this state in order to provide initial funding for the insurance examiners fund.  The assessment shall be made between August 28, 1991, and December 31, 1991, in the total amount of four hundred thousand dollars.  The assessment of each such insurer, health services corporation and health maintenance organization shall be proportionate to the amount of premiums or enrollment fees received in this state by the insurer, health services corporation or health maintenance organization during calendar year 1990, is to the total amount of premiums and enrollment fees received in this state by all such entities during calendar year 1990.

  2.  The director may make an assessment between August 28, 1993, and June 30, 1994, of each insurer, health services corporation and health maintenance organization to provide a minimum balance in the insurance examiners fund.  The total amount of all assessments made pursuant to this subsection shall not exceed four hundred thousand dollars.  Such assessments shall be proportionate to the amount of premiums or enrollment fees received by such insurer, health services corporation, or health maintenance organization during the calendar year 1992 to the total amount of premiums and enrollment fees received in this state by all such entities during calendar year 1992, except that the total amount of all assessments on each insurer, health services corporation or health maintenance organization shall be at least two hundred fifty dollars and shall not exceed two thousand dollars.

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(L. 1991 H.B. 385, et al. § 1, A.L. 1993 H.B. 709)