Section 130. Handling of pool deficit

Latest version.

If a group self-insurance pool is in a deficit condition, the pool shall promptly file with the commission a financial plan to correct the deficit condition. If the plan is found to be unacceptable by the commission and written notice, thereof, is given to the governing authority of the pool, delinquency proceedings may be commenced and conducted by the commission in accordance with the provisions of Chapter 15 (§ 38.2-1500 et seq.) of Title 38.2 of the Code of Virginia.

Historical Notes

Derived from Regulation 30, Case No. INS870057, § 6, eff. September 1, 1987; amended, Volume 26, Issue 14, eff. March 1, 2010.

Statutory Authority

§§ 12.1-13 and 38.2-223 of the Code of Virginia.

                    
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