20-159. Insurance examiners' revolving fund; definition
A. The director may establish a separate fund designated as the insurance examiners' revolving fund.
B. The fund shall be used for the examination expenses authorized by section 20-156 and to compensate independent contractor examiners as authorized by section 20-148. Independent contractor examiners may be reimbursed or compensated for:
1. Actual travel expenses in amounts customary for such expenses and approved by the director.
2. A reasonable living expense allowance at a rate customary for such expenses and approved by the director.
3. Per diem compensation at a rate customary for such compensation as approved by the director.
C. All persons receiving any reimbursement or compensation from the insurance examiners' revolving fund shall submit to the director for approval a detailed account of all expenses and compensation necessarily incurred on account of an examination. Persons shall not receive or accept any additional emolument on account of an examination. Any reimbursement or compensation made by the fund and approved by the director shall be charged to the person being examined by the director and all receipts shall be credited to the fund.
D. The fund is a special state fund pursuant to section 35-142, subsection A, paragraph 8. Monies in the insurance examiners' revolving fund shall not revert to the general fund.
E. Each authorized insurer shall deposit at a time determined by the director the sum of one hundred dollars with the director to be credited to the insurance examiners' revolving fund. Such deposit not to exceed one hundred dollars shall be returned only if such insurer ceases to transact insurance business in this state.
F. For purposes of this section, " insurer" includes health care services organizations, prepaid dental plan organizations, hospital service corporations, medical service corporations, dental service corporations and hospital, medical, dental and optometric service corporations incorporated in this state.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.