SB661 regulates pooled risk management programs for political subdivisions in New Hampshire, setting standards for organization, operation, and.
SB661 establishes regulations for pooled risk management programs benefiting political subdivisions in New Hampshire. These programs must be legal entities governed by a board composed mainly of public officials. They are exempt from insurance regulation and taxation. The bill mandates annual actuarial evaluations, audits, and the maintenance of contingency and member equity stabilization funds. It outlines procedures for addressing financial deficiencies, including member notifications and potential actions by the secretary of state.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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