Fla. Admin. Code Ann. R. 69O-187.006 - Deficit Assessments and Surplus Funds

(1) In the event of a deficit in any fund year, such deficit shall be made up, either from unencumbered surplus from a fund year or years other than the current fund year; or, upon approval by the Office, by assessment of the membership, if necessary and consistent with sound actuarial principles, or by such alternate method as the Office may approve. The Office shall be notified prior to any transfer of unencumbered surplus funds.

(2) If necessary and consistent with sound actuarial principles, the Fund may issue dividends or refunds to its members as approved by the Office.

(3) All filings shall be submitted electronically to http://www.floir.com/iportal.

Notes

Fla. Admin. Code Ann. R. 69O-187.006

Rulemaking Authority 627.357(6), 624.308(1) FS. Law Implemented 624.307(1), 624.424, 627.357 FS.

New 10-7-75, Formerly 4-39.05, Amended 5-10-89, Formerly 4-39.005, 4-187.006, Amended by Florida Register Volume 43, Number 138, July 18, 2017 effective 7/30/2017.

New 10-7-75, Formerly 4-39.05, Amended 5-10-89, Formerly 4-39.005, 4-187.006, Amended 7-30-17.