Michigan Laws 418.515 – Board of trustees; powers and duties; funds administrator; office space; clerical assistance; expenses; legal advice and representation
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Terms Used In Michigan Laws 418.515
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(1) The trustees shall have general authority to carry out the purposes of this chapter, shall make such rules as they consider necessary, shall maintain records and institute systems and procedures or take any other administrative action as they consider necessary to carry out the purposes of this chapter.
(2) The trustees may appoint an administrative officer to be referred to as the funds administrator who shall perform duties as shall be designated or delegated by the trustees.
(3) The worker’s compensation agency shall provide the trustees of the funds with suitable office space and clerical assistance. All other expenses authorized by the trustees for the proper administration of the funds, including but not limited to, the salary and expenses of the funds administrator and the investigation, determination and defense of claims against the funds shall be borne ratably by and paid from the assets of the funds. The trustees may secure legal advice and be represented by the attorney general or any assistant designated by the attorney general in any matter involving the affairs of the funds. The self-insurers’ security fund and the private employer group self-insurers security fund shall be represented by an assistant attorney general who is not representing the second injury fund or the silicosis and dust disease fund. The cost of such services and expenses in connection therewith shall be borne ratably by and paid from the funds. All expenses so incurred and charged to the funds shall be accounted for on a fiscal year basis.