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2015 SESSION
SB 1046 Benefits consortium; formation of a not-for-profit consortium by localities.
Introduced by: Emmett W. Hanger, Jr. | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Benefits consortium for localities. Authorizes the governing bodies of three or more cities, counties, or school boards, if they composed the membership of a multiple employer welfare arrangement on December 31, 2014, to form a benefits consortium for the purpose of establishing a self-funded employee welfare benefit plan. The benefits consortium will be a nonstock corporation established to operate a benefits plan. Each member of the benefits consortium shall be contractually liable for its allocated share of the consortium's liabilities. The benefits consortium will be exempt from taxation and from insurance regulations.
SUMMARY AS INTRODUCED:
Benefits consortium for localities. Authorizes the governing bodies of three or more cities, counties, or school boards to form a benefits consortium for the purpose of establishing a self-funded employee welfare benefit plan. The benefits consortium will be a nonstock corporation established to operate a benefits plan. The benefits consortium will be exempt from taxation and from insurance regulations.