- § 36-85-1 - Definitions
As used in this chapter, the term: (1) "Administrator" means any person who administers a group self-insurance fund other than the interlocal risk management...
- § 36-85-2 - Formation; Functions; Counties and Municipalities As Separate Classes; Agreements Creating Agencies; Files of Administrator are Sole Property of Agency
(a) A group of municipalities or a group of counties may execute an intergovernmental contract among themselves to form and become members of an...
- § 36-85-3 - Board of Trustees
Each intergovernmental contract establishing an intergovernmental risk management agency shall provide for a board of trustees which shall govern the agency. Such board shall...
- § 36-85-4 - Agency Not an Insurer
An interlocal risk management agency created pursuant to this chapter is not an insurance company or an insurer under Title 33, and the development...
- § 36-85-5 - Certificate of Authority; Application
(a) No interlocal risk management agency shall establish a group self-insurance fund or funds until such agency has been issued a certificate of authority...
- § 36-85-6 - Approval of Certificate; Renewal
(a) The Commissioner shall examine the application made under Code Section 36-85-5 to determine whether the agency and any established fund will be able...
- § 36-85-7 - Funds to Be Maintained
Each fund formed pursuant to this chapter shall possess and thereafter maintain minimum surplus in an amount such as the Commissioner may reasonably establish...
- § 36-85-8 - Investment of Assets
The investable assets of a fund may be invested in securities or other investments permitted by the laws of this state for the investment...
- § 36-85-9 - Local Government Liability for Funds
Each county or municipality shall be jointly and severally liable for all legal obligations of a fund which arise out of an event which...
- § 36-85-10 - Contracts Between Agency and Administrator
(a) If an agency contracts with an administrator, the agency and the administrator must enter into a written agreement which shall be subject to...
- § 36-85-11 - Fidelity Bond and Errors and Omissions Insurance; Administrators to Maintain Office in State
(a) The Commissioner shall require each administrator to have and maintain a fidelity bond in an amount which the Commissioner deems appropriate but which...
- § 36-85-12 - Revocation, Suspension, or Refusal to Renew Certificate of Authority; Hearing; Voluntary Dissolution of Fund
(a) The Commissioner may revoke, suspend, or refuse to issue or renew the certificate of authority of any agency when and if, after investigation,...
- § 36-85-13 - Exemption From State and Local Taxes and Fees
Interlocal risk management agencies and funds established by such agencies shall be exempt from state and local taxes and fees.
- § 36-85-14 - Periodic Examinations
The Commissioner shall have the authority to require and conduct periodic examinations to verify the solvency of funds in the same manner and under...
- § 36-85-15 - Fund Deficiencies; Assessments Upon Members; Liquidation of Fund
(a) If the assets of a fund are at any time insufficient to enable a fund to discharge its legal liabilities and other obligations...
- § 36-85-16 - Rules and Regulations
The Commissioner shall have authority to promulgate rules and regulations to effectuate the provisions of this chapter.
- § 36-85-17 - Hearings
Any party which is aggrieved by any act, determination, order, or any other action of the Commissioner taken pursuant to this chapter may request...
- § 36-85-18 - Excess Loss Funding Program Required
(a) An interlocal risk management agency shall maintain at all times an excess loss funding program acceptable to the Commissioner. An excess loss funding...
- § 36-85-19 - Audits of Funds
Each fund established under this chapter shall have an annual audit of its books and accounts performed by a certified public accountant. Such audit...
- § 36-85-20 - Exercise of Authority Not Provision of Liability Insurance; Sovereign Immunity
The exercise by a municipality or county of the authority provided in this chapter shall not constitute the provision of liability insurance protection under...
Last modified: October 14, 2016