New Hampshire Revised Statutes 281-A:55 – Special Fund for Second Injuries
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I. A special fund is hereby established in the state treasury for the purpose of making payments in accordance with N.H. Rev. Stat. § 281-A:15, III, N.H. Rev. Stat. § 281-A:54 and this section. The commissioner shall administer the fund. The state treasurer shall be the custodian of the fund, and all moneys and securities in the fund shall be held in trust by the state treasurer and shall not constitute money or property of the state.
II. The state treasurer is authorized to disburse moneys from the fund only upon written order of the commissioner. The state treasurer shall be required to give bond in an amount to be fixed and with securities approved by the commissioner conditioned upon the faithful performance of the treasurer’s duty as custodian of the fund. The premium of the bond shall be paid out of the fund.
III. Each insurance carrier and self-insurer shall, pursuant to rules adopted by the commissioner, make payments to the fund in an amount equal to that proportion of 115 percent of the total obligation of the fund during the preceding 12 months, less the amount of the net assets in the fund as of March 31 of the current year, which the total workers’ compensation benefits, including medical benefits, paid by each insurance carrier and self-insurer bore to the total workers’ compensation benefits, including medical benefits, paid by all insurance carriers and self-insurers in the preceding calendar year.
IV. The commissioner shall conserve the assets of the fund. In furtherance of this purpose, the attorney general shall appoint an employee of the department of justice to represent the fund in all proceedings brought to enforce claims against the fund.
V. An insurance carrier or self-insurer failing without sufficient cause to make payment under this section within the period specified by the commissioner shall be assessed a civil penalty of $100 for each day that the payment is overdue, which shall be deposited into the department of labor restricted fund established in N.H. Rev. Stat. § 273:1-b.
II. The state treasurer is authorized to disburse moneys from the fund only upon written order of the commissioner. The state treasurer shall be required to give bond in an amount to be fixed and with securities approved by the commissioner conditioned upon the faithful performance of the treasurer’s duty as custodian of the fund. The premium of the bond shall be paid out of the fund.
Terms Used In New Hampshire Revised Statutes 281-A:55
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Commissioner: means the labor commissioner appointed as provided in RSA 273. See New Hampshire Revised Statutes 281-A:2
- employee: includes persons who regularly operate businesses or practice their trades, professions, or occupations, whether individually, or in partnership, or association with other persons, whether or not they hire others as employees. See New Hampshire Revised Statutes 281-A:2
- Insurance carrier: shall include any corporation licensed to sell insurance in this state from which an employer has obtained a workers' compensation insurance policy in accordance with the provisions of this chapter. See New Hampshire Revised Statutes 281-A:2
- justice: when applied to a magistrate, shall mean a justice of a municipal court, or a justice of the peace having jurisdiction over the subject-matter. See New Hampshire Revised Statutes 21:12
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
III. Each insurance carrier and self-insurer shall, pursuant to rules adopted by the commissioner, make payments to the fund in an amount equal to that proportion of 115 percent of the total obligation of the fund during the preceding 12 months, less the amount of the net assets in the fund as of March 31 of the current year, which the total workers’ compensation benefits, including medical benefits, paid by each insurance carrier and self-insurer bore to the total workers’ compensation benefits, including medical benefits, paid by all insurance carriers and self-insurers in the preceding calendar year.
IV. The commissioner shall conserve the assets of the fund. In furtherance of this purpose, the attorney general shall appoint an employee of the department of justice to represent the fund in all proceedings brought to enforce claims against the fund.
V. An insurance carrier or self-insurer failing without sufficient cause to make payment under this section within the period specified by the commissioner shall be assessed a civil penalty of $100 for each day that the payment is overdue, which shall be deposited into the department of labor restricted fund established in N.H. Rev. Stat. § 273:1-b.