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This entry was published on 2014-09-22
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SECTION 216
Disposition of uncommitted balance of employees' contributions
Workers' Compensation (WKC) CHAPTER 67, ARTICLE 9
§ 216. Disposition of uncommitted balance of employees' contributions.
Whenever any arrangement for the provision of benefits as set forth in
section two hundred eleven is terminated, any uncommitted balance of
employee contributions shall be utilized only to pay accrued benefits
and to provide benefits under this article. On the liquidation of a
covered employer's business, or when he shall cease to be a covered
employer, any such sums so remaining in excess of those required to
discharge obligations under this article may be used for the benefit of
employees on a reasonable basis approved by the chairman, and any such
sums not so used shall be promptly paid to the chairman for deposit in
the fund created under section two hundred fourteen.