§ 10-4-1306 — Deficits - assessment - rebate of surplus

(1) Whenever a deficit
exists, the board shall, within ninety days, provide the commissioner with a program
to eliminate the deficit within a reasonable time.

(2) Any premiums or assessments collected by the plan in excess of the
amount necessary to fund projected ultimate incurred losses and expenses of the
plan and not paid to insureds in conjunction with dividend programs shall be
retained by the plan for future use as necessary to ensure the continued
operational viability of the plan.

(3) If the plan incurs a deficit or surplus from operations in excess of the
amount required under subsection (2) of this section, as determined by the
commissioner, the amount of the deficit or surplus shall be assessed or rebated to
the participating insurers. Each such insurer shall pay a portion of the total
assessment or receive a portion of the total rebate based on its proportion of the
total voluntary Colorado workers' compensation insurance written during the
calendar year in which the deficit or surplus occurs.

Legislative History

Source: L. 95: Entire part added, p. 734, � 1, effective May 23.