There is created a nonprofit unincorporated legal entity to be known as the Connecticut Insurance Guaranty Association. All insurers defined as member insurers in section 38a-838 shall be members of said association as a condition of their authority to transact insurance in this state. Said association shall perform its functions under a plan of operation established and approved under section 38a-842 and shall exercise its powers through a board of directors established under section 38a-840. For the purposes of administration and assessment, said association shall be divided into three separate accounts: (1) The workers' compensation insurance account; (2) the automobile insurance account; and (3) an account for all other insurance to which sections 38a-836 to 38a-853, inclusive, apply.
(1971, P.A. 466, S. 4; P.A. 79-376, S. 63; P.A. 87-290, S. 2, 8; P.A. 10-5, S. 38; P.A. 11-19, S. 17.)
History: P.A. 79-376 substituted “workers' compensation” for “workmen's compensation”; P.A. 87-290 made a technical change, substituting reference to 38-275(8) for reference to Sec. 38-275(6); Sec. 38-276 transferred to Sec. 38a-839 in 1991; P.A. 10-5 made technical changes, effective May 5, 2010; P.A. 11-19 made a technical change.
Annotation to former section 38-276:
Cited. 215 C. 224.
Annotation to present section:
Cited. 217 C. 371.
Structure Connecticut General Statutes
Chapter 704a - Insurance Guaranty Funds
Section 38a-837. (Formerly Sec. 38-274). - Application of chapter.
Section 38a-838. (Formerly Sec. 38-275). - Definitions.
Section 38a-842. (Formerly Sec. 38-279). - Plan of operation.
Section 38a-843. (Formerly Sec. 38-280). - Insolvent insurers. Penalty. Petition to show cause.
Section 38a-846. (Formerly Sec. 38-283). - Detection and prevention of insurer insolvencies.
Section 38a-848. (Formerly Sec. 38-285). - Exemption from fees and taxes. Exception.
Section 38a-849. (Formerly Sec. 38-286). - Rates and premiums to include recoupment of assessments.
Section 38a-852. (Formerly Sec. 38-288a). - Prohibited unfair trade practice.
Section 38a-853. (Formerly Sec. 38-289). - Regulations.
Section 38a-859. (Formerly Sec. 38-302). - Association of member insurers.
Section 38a-860. (Formerly Sec. 38-303). - Application of chapter. Obligations of association.
Section 38a-861. (Formerly Sec. 38-304). - Liberal construction.
Section 38a-862. (Formerly Sec. 38-305). - Definitions.
Section 38a-863. (Formerly Sec. 38-306). - Creation of association. Accounts. Supervision.
Section 38a-864. (Formerly Sec. 38-307). - Board of directors.
Section 38a-865. (Formerly Sec. 38-308). - Powers.
Section 38a-866. (Formerly Sec. 38-309). - Assessments.
Section 38a-867. (Formerly Sec. 38-310). - Plan of operation.
Section 38a-868. (Formerly Sec. 38-311). - Duties of commissioner.
Section 38a-869. (Formerly Sec. 38-312). - Action by board of directors. Examination of insurer.
Section 38a-872. (Formerly Sec. 38-315). - Examination and regulation of association. Reports.
Section 38a-873. (Formerly Sec. 38-316). - Exemption from fees and taxes.
Section 38a-874. (Formerly Sec. 38-317). - Immunity.
Section 38a-875. (Formerly Sec. 38-318). - Stay of proceedings in which impaired insurer a party.
Section 38a-880. - Brokered Transactions Guaranty Fund.
Section 38a-881. - Fee payable to fund.
Section 38a-882. - Level of guaranty fund. Credits to General Fund. Assessment of additional fee.
Section 38a-883. - Limitation of actions.
Section 38a-885. - Penalty for false or untrue claim.
Section 38a-886. - Procedure. Application to the Superior Court.
Section 38a-887. - Payment from guaranty fund.