§ 1939. Risk retention pool
The owners and operators of underground storage tanks may obtain the advice of the Commissioner of Financial Regulation, and may establish an insurance pool. The Commissioner shall adopt rules to assist in the formation of such pools and to expedite approval of any plan of operation. The Commissioner shall also adopt rules relating to the administration and operation of such pools in order to provide for the fiscal integrity of agreements entered into and to provide that trade, market, and claim practices engaged in are equitable, fair, and consistent. The establishment of such a pool shall conform to all requirements of the Commissioner of Financial Regulation and applicable State and federal laws, rules, and regulation. (Added 1987, No. 85, § 2, eff. June 9, 1987; amended 1989, No. 225 (Adj. Sess.), § 25; 1995, No. 180 (Adj. Sess.), § 38(a); 2011, No. 78 (Adj. Sess.), § 2, eff. April 2, 2012.)
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