§ 28-53-5. Establishment of reserves — Disbursement of excess funds.
When the balance of the fund, following the deduction of operating expenses, reserves, claims, administration costs and all other reasonable and necessary costs and expenses, exceeds the sum of five million dollars ($5,000,000), the director is authorized to determine by experience or other appropriate accounting and actuarial method what percentage of the payment collected by the fund pursuant to the provisions of § 28-53-2(a) is needed to maintain the fund at the five million dollar ($5,000,000) level for the following twelve (12) months and shall certify the same and shall make such calculations on or before May 10 of each year thereafter.
History of Section.P.L. 2007, ch. 509, § 1.
Structure Rhode Island General Laws
Title 28 - Labor and Labor Relations
Chapter 28-53 - Rhode Island Uninsured Protection Fund
Section 28-53-1. - Preamble and legislative findings.
Section 28-53-2. - Establishment — Sources — Administration.
Section 28-53-3. - Powers and duties of the fund.
Section 28-53-4. - Payor of last resort.
Section 28-53-5. - Establishment of reserves — Disbursement of excess funds.
Section 28-53-6. - Custodian — Orders for payment.
Section 28-53-7. - Payments to employees of uninsured employers.
Section 28-53-8. - Limitations on payments to injured employees.
Section 28-53-9. - Penalties, taxes, and assessments against noncomplying employers.