North Dakota Code 54-03-25 – Bills and amendments affecting workforce safety and insurance fund – Actuarial impact statement
Workforce safety and insurance shall review any legislative measure affecting workforce safety and insurance benefits or premium rates to determine whether the measure will have an actuarial impact on the workforce safety and insurance fund. If the organization determines that the measure will have an actuarial impact on the fund, the organization shall submit, before the measure is acted upon, an actuarial impact statement prepared, at the expense of the organization, by the actuary employed by the organization. The organization shall review any amendment affecting workforce safety and insurance benefits or premium rates and shall submit, before the amendment is acted upon, either a statement prepared by the organization, stating that the amendment is not expected to have any actuarial impact on the workforce safety and insurance fund, or an actuarial impact statement prepared, at the expense of the organization, by the actuary employed by the organization.
Terms Used In North Dakota Code 54-03-25
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Organization: includes a foreign or domestic association, business trust, corporation, enterprise, estate, joint venture, limited liability company, limited liability partnership, limited partnership, partnership, trust, or any legal or commercial entity. See North Dakota Code 1-01-49