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Current as of January 01, 2024 | Updated by Findlaw Staff
Whenever total costs and expenses charged to the classification of the modified workers' compensation program established under this chapter exceeds the amount of premiums paid into the fund and any payments from the risk management workers' compensation fund under the workforce safety and insurance state entities account under section 65-04-03.1, those excess costs and expenses are a general obligation of the state and the state shall reimburse the organization for credit to the workforce safety and insurance fund through legislative appropriation to the extent not covered by any program of excess coverage or reinsurance. This modified workers' compensation coverage may not be effective unless the organization has, in its sole discretion, purchased excess coverage or reinsurance that does not exclude claims under this section.
Cite this article: FindLaw.com - North Dakota Century Code Title 65. Workforce Safety and Insurance § 65-06.2-07. State reimbursement for liability in excess of collected premiums - last updated January 01, 2024 | https://codes.findlaw.com/nd/title-65-workforce-safety-and-insurance/nd-cent-code-sect-65-06-2-07/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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