☰ Revisor of Missouri


Chapter 537

< > Effective - 28 Aug 1999    bottom

  537.740.  Insufficient contributions, assessment, abatement, deferral — retroactive application. — 1.  If contributions to the fund do not produce sufficient funds to pay any claims which may be due, the board shall assess and each member, including any member who has withdrawn but was a member in the year in which the assessment is required, shall pay such additional amounts which are each member's proportionate share of total claims allowed and due.  The board may abate or defer any part of the additional assessment of a member, if, in the opinion of the board, payment of the additional assessment would impair the ability of the member to fulfill its contractual obligations.  The provisions of this subsection shall apply retroactively to the creation of the Missouri public entity risk management fund.

  2.  The board, in order to carry out the purposes for which the fund is established, may select and employ, or contract with, persons experienced in insurance underwriting, accounting, the servicing of claims, and rate making, who shall serve at the board's pleasure, as technical advisors in establishing the annual contribution, or may call upon the director of the department of commerce and insurance for such services.


(L. 1986 H.B. 1435 & 1461, A.L. 1993 S.B. 88, A.L. 1999 S.B. 295 & 46)

---- end of effective  28 Aug 1999 ----

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