41-4019. LIQUIDATION OF TRUST FUND. (1) Upon termination of registration of the plan, the trust fund of a self-funded plan shall be liquidated as soon as practicable.
(2) Liquidation of a solvent self-funded plan shall be conducted by its trustee under a plan of liquidation in writing filed with and approved by the director as fair and equitable to all persons having a pecuniary interest in the trust fund. Any balance remaining after payment or adequate provision for all claims and charges against the trust fund shall be disposed of in such manner as is provided for in the plan of liquidation. Unless the plan of liquidation provides that liability for all unpaid claims and obligations of the trust fund has been unconditionally assumed by other financially responsible person or persons and the third party contract has been submitted to the department for its review, the existence of surplus funds for such disposition shall not be determined prior to expiration of two (2) years after termination of the registration.
(3) The liquidation of an insolvent self-funded plan shall be carried out by the director in accordance with chapter 33, title 41, Idaho Code (rehabilitation and liquidation). For this purpose, the self-funded plan shall be deemed to be an insolvent domestic insurer and subject to all statutes and rules applicable to the same.
History:
[41-4019, added 1974, ch. 248, sec. 19, p. 1624; am. 2006, ch. 414, sec. 16, p. 1268; am. 2013, ch. 181, sec. 18, p. 432.]
Structure Idaho Code
Chapter 40 - SELF-FUNDED HEALTH CARE PLANS
Section 41-4001 - DECLARATION OF PURPOSE.
Section 41-4002 - DEFINITIONS.
Section 41-4003 - REGISTRATION REQUIRED — EXEMPTIONS — NOT SUBJECT TO INSURANCE CODE.
Section 41-4004 - PLAN REQUIREMENTS.
Section 41-4005 - APPLICATION FOR REGISTRATION — FEE.
Section 41-4006 - GRANT OR DENIAL OF REGISTRATION.
Section 41-4007 - TRUST FUND — AUTHORITY.
Section 41-4008 - TRUST FUND LIABILITY — FIDUCIARY FUNDS.
Section 41-4009 - INVESTMENT OF TRUST FUND.
Section 41-4010 - RESERVES AND SURPLUS.
Section 41-4011 - RECORDS AND ACCOUNTS — ANNUAL STATEMENT.
Section 41-4013 - EXAMINATION OF BOOKS, RECORDS AND ACCOUNTS.
Section 41-4014 - TRUSTEES — ADMINISTRATORS — BONDING.
Section 41-4015 - PROHIBITED PECUNIARY INTERESTS IN PLAN MANAGEMENT.
Section 41-4016 - POLITICAL CONTRIBUTIONS PROHIBITED.
Section 41-4017 - RECOVERY OF DEPLETED FUNDS.
Section 41-4018 - TERMINATION OF REGISTRATION.
Section 41-4019 - LIQUIDATION OF TRUST FUND.
Section 41-4021 - OTHER PROVISIONS APPLICABLE.
Section 41-4023 - COVERAGE FROM MOMENT OF BIRTH — COMPLICATIONS OF PREGNANCY.
Section 41-4024 - SERVICES PROVIDED BY GOVERNMENTAL ENTITIES.