41-4119. LIQUIDATION OF TRUST FUND. (1) Upon termination of registration the trust fund of a joint public agency self-funded plan shall be liquidated.
(2) Liquidation of a solvent joint public agency self-funded plan shall be conducted by its trustee under a plan of liquidation in writing filed with the director, found by the director to be fair and equitable to all persons having a pecuniary interest in the trust fund, and approved by him. 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 under the plan of liquidation liability for all unpaid claims and obligations of the trust fund has been assumed by other financially responsible person or persons, 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 joint public agency self-funded plan shall be carried out by the director in accordance with chapter 33, title 41, Idaho Code (supervision, rehabilitation and liquidation), and for this purpose the joint public agency self-funded plan shall be deemed to be an insolvent domestic insurer.
History:
[41-4119, added 2006, ch. 415, sec. 1, p. 1279.]
Structure Idaho Code
Chapter 41 - JOINT PUBLIC AGENCY SELF-FUNDED HEALTH CARE PLANS
Section 41-4101 - DECLARATION OF PURPOSE.
Section 41-4102 - DEFINITIONS.
Section 41-4103 - REGISTRATION REQUIRED — EXEMPTIONS — NOT SUBJECT TO INSURANCE CODE.
Section 41-4104 - QUALIFICATIONS FOR REGISTRATION.
Section 41-4105 - APPLICATION FOR REGISTRATION.
Section 41-4106 - GRANT OR DENIAL OF APPLICATION.
Section 41-4107 - TRUST FUND — POWERS.
Section 41-4108 - TRUST FUND LIABILITY.
Section 41-4109 - INVESTMENT OF TRUST FUND.
Section 41-4111 - RECORDS AND ACCOUNTS — ANNUAL STATEMENT.
Section 41-4112 - TAXES — EXEMPTION.
Section 41-4113 - EXAMINATION OF BOOKS, RECORDS AND ACCOUNTS.
Section 41-4114 - BOARD OF TRUSTEES — ADMINISTRATORS.
Section 41-4115 - PROHIBITED PECUNIARY INTERESTS IN PLAN MANAGEMENT.
Section 41-4116 - POLITICAL CONTRIBUTIONS PROHIBITED.
Section 41-4117 - RECOVERY OF DEPLETED FUNDS.
Section 41-4118 - TERMINATION OF REGISTRATION.
Section 41-4119 - LIQUIDATION OF TRUST FUND.
Section 41-4121 - OTHER PROVISIONS APPLICABLE.
Section 41-4123 - COVERAGE FROM MOMENT OF BIRTH — COMPLICATIONS OF PREGNANCY.
Section 41-4124 - SERVICES PROVIDED BY GOVERNMENTAL ENTITIES.