Rhode Island General Laws 28-47-9. Audit of group self-insurance
The director annually, as soon as practicable after April 1 in each succeeding year, shall ascertain the total amount of expenses, including in addition to the direct costs of personal services, the cost of maintenance and operation; the cost of retirement contributions made and workers’ compensation premiums paid by the state for or on account of personnel; rentals for space occupied in state-owned or state-leased buildings; and all other direct or indirect costs incurred by the department of business regulation during the preceding calendar year in carrying out the provisions of this chapter. Those expenses shall be assessed against all group self-insurers including for this purpose employers who or that have ceased to exercise the privilege of group self-insurance but have filed a surety bond, trust fund, or other security. The basis of apportionment of the assessment against each group shall be that proportion of those expenses, excluding any expenses associated with a disbanded group, that the written premium or equivalent premium of each group self-insurer at the close of the preceding calendar year bears to the total premium for all group self-insurers. The department may assess any disbanded group based upon the actual expenses incurred by the department for such group in the preceding fiscal year. For the purpose of this assessment, a “disbanded group” means a group in run-off. All those assessments when collected shall be paid to and for the use of the insurance division of the department of business regulation.
History of Section.
P.L. 1982, ch. 32, art. 3, § 1; P.L. 1992, ch. 133, art. 83, § 1; P.L. 1993, ch. 234, § 1; P.L. 1993, ch. 299, § 1; P.L. 1999, ch. 53, § 1.
Terms Used In Rhode Island General Laws 28-47-9
- Department: means the department of labor and training. See Rhode Island General Laws 28-29-2
- Director: means the director of labor and training or his or her designee unless specifically stated otherwise. See Rhode Island General Laws 28-29-2
- employers: shall include :
(1) Employers with related activity in a given industry employing persons who perform work in connection with the given industry;
(2) An incorporated or unincorporated association or associations consisting exclusively of those employers provided they employ persons who perform that related work in the given industry; and
(3) A combination of employers as described in subsection (a)(1) and an association or associations of employers as described in subsection (a)(2). See Rhode Island General Laws 28-47-1
- 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.
- Group self-insurance: as used in this chapter , shall be deemed to be the system of securing compensation as provided in this chapter. See Rhode Island General Laws 28-47-1