44-590. Same; new members; application; termination.
44-590
44-590. Same; new members; application; termination.(a) After the inception date of the group-funded workers'compensation pool, prospective new members of the pool shall submit an applicationfor membership to the board of trustees or its administrator. The trusteesmay approve the application for membership pursuant to the bylaws of thepool. The application for membership and approval shall then be filed withthe commissioner. Membership takes effect after approval.
(b) Individual members may elect to terminate their participation in apool or be subject to cancellation by the pool pursuant to the bylaws ofthe pool. On termination or cancellation of a member, the pool shall notifythe commissioner within 10 days and shall maintain coverage of each cancelledor terminating member for 30 days after notice to the commissioner or untilthe commissioner gives notice that the cancelled or terminating member hasprocured workers' compensation and employer's liability insurance, whicheveroccurs first.
History: L. 1983, ch. 166, § 10; July 1.