Md. Code Regs. 31.08.09.14

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.08.09.14 - Rebates and Temporary Suspension of Member Contributions

A. Any monies for a fund year in excess of the amount necessary to fund all undiscounted losses and loss adjustment expenses for that fund year, actuarially determined by a member of the American Academy of Actuaries or a person who has otherwise demonstrated his or her actuarial competence to the satisfaction of the Commissioner, may be rebated to members of the group.

B. A rebate for any fund year shall be paid only to those employers who remain participants in the group for the entire fund year.

C. Instead of rebating excess monies, a group may temporarily suspend premium contributions for a period of time calculated to result in no excess for the succeeding fund year.

D. No rebates or suspension of premium contributions shall be made when a group is insolvent or otherwise causes the group to be considered in a financially hazardous condition pursuant to § 9-102 of the Insurance Article of the Annotated Code of Maryland.

Md. Code Regs. 31.08.09.14

Regulation .14 amended effective 44:4 Md. R. 256, eff. 1/1/2018