New Hampshire SB661 regulates pooled risk management programs for political subdivisions, detailing governance, financial requirements, and.
New Hampshire SB661 establishes regulations for pooled risk management programs benefiting political subdivisions. These programs can cover various risks, including casualty, property, vehicle, and environmental impairment. The bill mandates annual actuarial evaluations and audits, requires a contingency reserve and member equity stabilization fund, and outlines governance by a board of public officials. It also details procedures for addressing insolvency, financial impairment, and violations, including potential court orders and penalties.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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