Rule 120-2-34-.08. Termination of Membership
- (1) A Fund may submit Termination Criteria to the Commissioner for approval. The criteria should stipulate reasons for terminating the relationship between the Fund and the member including, but not limited to, non-payment of premium, claims experience, and failure to report claims.
- (2) A member electing to terminate its participation in the Fund shall submit to the Fund and to the Commissioner a Form GID-264-RS entitled "Application for Termination of Membership in Group Self-Insurance Fund" at least ninety (90) days prior to the requested date of termination. If the Fund has an approved Termination Criteria in place, the member may submit written notice terminating its participation in accordance with those criteria.
- (3) As a prerequisite to approval of termination of membership in the Fund, a member must demonstrate to the Commissioner, that it will, after termination, provide proof of coverage as required under the Act.
- (4) Except where Termination Criteria has been approved, within ten (10) days of receipt of the application for termination of membership, the Fund shall notify the Commissioner of the applicant's current standing and state any reasons why the application should not be approved.
Authority: O.C.G.A. §§ 33-2-9, 34-9-156, 34-9-174, 50-13-21.
History. Original Rule entitled "Application to Serve as Administrator" 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Repealed: New Rule of same title adopted.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Repealed: New Rule entitled "Termination of Membership" adopted. F. Nov. 4, 1997; eff. Nov. 24, 1997.
Amended: F. Mar. 5, 2025; eff. Mar. 25, 2025.