Rule 120-2-34-.04. Notice of Intent to Form a Fund

1. (1) At least thirty (30) days prior to forming a Group Self-Insurance Fund or signing the Intrastate Agreement, applicants shall first file with the Commissioner a "Notice of Intent to Form a Self- Insured Fund," referred to as form GSF-IN. The GSF-IN shall comply with O.C.G.A. § 34-9-151.1 and must contain:

   1. (a) The name of the group forming the Fund;
   2. (b) The name of the proposed administrator;
   3. (c) The type or types of employers to be offered membership into the Fund;
   4. (d) A statement that the group is knowledgeable of and will comply with the requirements of Article 5 of Chapter 9 of Title 34 of the Official Code of Georgia Annotated and this regulation; and
   5. (e) A copy of the intrastate agreement that will be used to establish the Fund.
2. (2) The Commissioner shall have thirty (30) days to review the "Notice of Intent to Form a Self-Insured Fund" and shall render a decision to accept or reject the proposed Fund within thirty (30) days of filing. If the Commissioner approves the Notice, or does not respond within a thirty (30) day period, the filing is deemed accepted and the Fund may begin recruiting new members and may file an application for a Certificate of Authority. Approval of the Notice does not equate to approval of an application for issuance of a Certificate of Authority.

Authority: Ga. L. 1960, pp. 289, 305; Ga. L. 1981, pp. 1759, 1778; O.C.G.A. Secs. 33-2-9, 34-9-151.1, 34-9-174.

History. Original Rule entitled "Application for Certificate of Authority" was filed on March 16, 1982; effective April 15, 1982, by Order of the Insurance Commissioner.

Repealed: New Rule of same title adopted. F. May 9, 1990; eff. June 15, 1990, as specified by the Agency.

Repealed: New Rule entitled "Notice of Intent to Form a Fund" adopted. F. Nov. 4, 1997; eff. Nov. 24, 1997.