§28-53-5  Establishment of reserves – Disbursement of excess funds. –


Published: 2015

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TITLE 28

Labor and Labor Relations

CHAPTER 28-53

Rhode Island Uninsured Employers Fund

SECTION 28-53-5



   § 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 Rhode Island general laws subsection

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.)