Florida Administrative Code
69 - DEPARTMENT OF FINANCIAL SERVICES
69O - OIR - Insurance Regulation
Chapter 69O-188 - COMMERCIAL SELF-INSURANCE FUNDS
Section 69O-188.027 - Excess Funds
Universal Citation: FL Admin Code R 69O-188.027
Current through Reg. 50, No. 187; September 24, 2024
(1) Once a policy year is closed, any excess funds must be:
(a)
Distributed as dividends to members subject to the approval of the Office;
or
(b) Transferred to any open fund
year or years. Such transfer must be formally approved by the
trustees.
(2) Such action must be effective as of the first December 31 following the closing of a policy year.
Rulemaking Authority 624.308 FS. Law Implemented 624.307(1), 624.470, 624.474, 624.488 FS.
New 12-17-90, Formerly 4-78.027, 4-188.027.
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