(a) Any moneys for a fund year in excess of the amount necessary to fund all obligations for that fund year may be declared to be refundable by the board of trustees not less than twelve months after the end of the fund year.
(b) Each member shall be given a written description of the refund plan at the time of application for membership. A refund for any fund year shall be paid only to those employers who remain participants in the group for the entire fund year. Payment of a refund based on a previous fund year shall not be contingent on continued membership in the group after that fund year.
(P.A. 96-267, S. 16.)
Structure Connecticut General Statutes
Chapter 706 - Private Employer Workers' Compensation Group Self-Insurance
Section 38a-1000. - Applicability.
Section 38a-1001. - Definitions.
Section 38a-1002. - Approval of self-insurance group required.
Section 38a-1003. - Group certificate of approval. Application. Fees.
Section 38a-1004. - Duration and termination of certificate of approval.
Section 38a-1005. - Examination of group. Costs.
Section 38a-1006. - Group board of trustees.
Section 38a-1008. - Service company and administrator to be mutually disinterested.
Section 38a-1009. - Nonemployee soliciting group membership must be licensed.
Section 38a-1010. - Annual statement of financial condition required. Untrue statement prohibited.
Section 38a-1012. - Misrepresentation and omission in membership solicitation prohibited.
Section 38a-1013. - Investments.
Section 38a-1014. - Classifications and rating. Premium contributions. Audits. Hearings.
Section 38a-1015. - Excess moneys refundable. Refund plan. Notice.
Section 38a-1016. - Premium payment plan required. Loss reserves. Bad debt reserves.
Section 38a-1017. - Deficiencies. Insolvency. Liquidation and assessment.
Section 38a-1018. - Penalties.
Section 38a-1020. - Revocation of certificate of approval.
Section 38a-1021. - Additional provisions.