Florida Regulations 69O-190.072: Miscellaneous Income of a Self-Insurers Fund
Current as of: 2024 | Check for updates
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(1) Miscellaneous income is all income received by a fund other than premium paid by members.
(2) If the Office determines that a fund shall allocate miscellaneous income to fund a deficit or contingent liability, then the amount allocated shall be part of the fund’s security deposit and shall be encumbered for use only as specified by the Division.
(3) All unencumbered miscellaneous income may be disbursed at the discretion of the trustees in any manner not contrary to the rules or to the purpose for which the fund was established.
(4) Investment income earned after the end of the last policy year shall be disbursed only for essential fund operating expenses and dividends pursuant to subsection 69O-190.065(6), F.A.C. These expenses shall include payment of claims and claims expenses, service fees, administrative overhead, marketing costs, promotional costs, commissions, and other expenses related to the direct operating costs of the fund. Essential fund operating expenses shall not include refunds, dividends, bonuses, or other similar expenses.
Rulemaking Authority 624.4621 FS. Law Implemented Florida Statutes § 624.4621. History-New 12-25-84, Formerly 38F-5.72, Amended 12-19-93, Formerly 38F-5.072, 4-190.072.
(3) All unencumbered miscellaneous income may be disbursed at the discretion of the trustees in any manner not contrary to the rules or to the purpose for which the fund was established.
(4) Investment income earned after the end of the last policy year shall be disbursed only for essential fund operating expenses and dividends pursuant to subsection 69O-190.065(6), F.A.C. These expenses shall include payment of claims and claims expenses, service fees, administrative overhead, marketing costs, promotional costs, commissions, and other expenses related to the direct operating costs of the fund. Essential fund operating expenses shall not include refunds, dividends, bonuses, or other similar expenses.
Rulemaking Authority 624.4621 FS. Law Implemented Florida Statutes § 624.4621. History-New 12-25-84, Formerly 38F-5.72, Amended 12-19-93, Formerly 38F-5.072, 4-190.072.