The expense of the organization, maintenance, and operation of the Rating Bureau shall be paid by the members of the bureau, and no part of said expense shall in any event be paid by the state or by any county or municipality. The expense not covered by user fees shall be shared by all members through an annual assessment as established by the board of directors with due consideration given to the extent of utilization of bureau services. Upon failure of any company to pay its lawful proportion of said expense within thirty (30) days after the same is due and payable, the Rating Bureau may refuse to furnish its service to such delinquent member, and shall report such delinquency to the Commissioner of Insurance, who for such delinquency may suspend or revoke the license of such delinquent company. The bureau shall establish equitable fees for its services sufficient to cover the operations required under Section 83-2-1 et seq.
Sources: Codes, 1930, § 5314; 1942, § 5828; Laws, 1924, ch. 188; reenacted without change, 1982, ch. 487, § 5; Laws, 1987, ch. 422, § 20; reenacted, 1991, ch. 317, § 4; reenacted without change, Laws, 1998, ch. 456, § 4, eff from and after July 1, 1998.
The expense of the organization, maintenance, and operation of the Rating Bureau shall be paid by the members of the bureau, and no part of said expense shall in any event be paid by the state or by any county or municipality. The expense not covered by user fees shall be shared by all members through an annual assessment as established by the board of directors with due consideration given to the extent of utilization of bureau services. Upon failure of any company to pay its lawful proportion of said expense within thirty (30) days after the same is due and payable, the Rating Bureau may refuse to furnish its service to such delinquent member, and shall report such delinquency to the Commissioner of Insurance, who for such delinquency may suspend or revoke the license of such delinquent company. The bureau shall establish equitable fees for its services sufficient to cover the operations required under Section 83-2-1 et seq.
Sources: Codes, 1930, § 5314; 1942, § 5828; Laws, 1924, ch. 188; reenacted without change, 1982, ch. 487, § 5; Laws, 1987, ch. 422, § 20; reenacted, 1991, ch. 317, § 4; reenacted without change, Laws, 1998, ch. 456, § 4, eff from and after July 1, 1998.
The expense of the organization, maintenance, and operation of the Rating Bureau shall be paid by the members of the bureau, and no part of said expense shall in any event be paid by the state or by any county or municipality. The expense not covered by user fees shall be shared by all members through an annual assessment as established by the board of directors with due consideration given to the extent of utilization of bureau services. Upon failure of any company to pay its lawful proportion of said expense within thirty (30) days after the same is due and payable, the Rating Bureau may refuse to furnish its service to such delinquent member, and shall report such delinquency to the Commissioner of Insurance, who for such delinquency may suspend or revoke the license of such delinquent company. The bureau shall establish equitable fees for its services sufficient to cover the operations required under Section 83-2-1 et seq.
Sources: Codes, 1930, § 5314; 1942, § 5828; Laws, 1924, ch. 188; reenacted without change, 1982, ch. 487, § 5; Laws, 1987, ch. 422, § 20; reenacted, 1991, ch. 317, § 4; reenacted without change, Laws, 1998, ch. 456, § 4, eff from and after July 1, 1998.
