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RSA 5-B:5 · Standards of Organization and Operation

Title
I: THE STATE AND ITS GOVERNMENT
Chapter
5-B · POOLED RISK MANAGEMENT PROGRAMS
Status
current
Official source linked
Yes
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5-B:5 Standards of Organization and Operation. –

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I.

Each pooled risk management program shall meet the following standards of organization and operation. Each program shall:

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(a)

Exist as a legal entity organized under New Hampshire law.

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(b)

Be governed by a board the majority of which is composed of elected or appointed public officials, officers, or employees. Board members shall not receive compensation but may be reimbursed for mileage and other reasonable expenses. Board members shall comply with the provisions of RSA 15-A.

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(c)

Return all earnings and surplus in excess of any amounts required for administration, claims, reserves, and purchase of excess insurance to the participating political subdivisions.

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(d)

Provide for an annual audit of financial transactions by an independent certified public accountant. The audit shall be filed with the department and distributed to participants of each pooled risk management program.

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(e)

Be governed by written bylaws which shall detail the terms of eligibility for participation by political subdivisions, the governance of the program and other matters necessary to the program's operation. Bylaws and any subsequent amendments shall be filed with the department.

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(f)

Provide for an annual actuarial evaluation of the pooled risk management program. The evaluation shall assess the adequacy of contributions required to fund any such program and the reserves necessary to be maintained to meet expenses of all incurred and incurred but not reported claims and other projected needs of the plan. The annual actuarial evaluation shall be performed by a member of the American Academy of Actuaries qualified in the coverage area being evaluated, shall be filed with the department, and shall be distributed to participants of each pooled risk management program.

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(g)

Provide notice to all participants of and conduct 2 public hearings for the purpose of advising of potential rate increases, the reasons for projected rate increases, and to solicit comments from members regarding the return of surplus, at least 10 days prior to rate setting for each calendar year.

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II.

If a pooled risk management program fails to provide for an annual audit or an annual actuarial evaluation, the department shall perform or cause to be performed the required audit or evaluation and shall be reimbursed the cost by the program. Source. 1987, 329:1. 1997, 14:1. 2010, 149:4, 5, eff. June 14, 2010. 2014, 14:1, eff. July 13, 2014.

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Source note

Source. 1987, 329:1. 1997, 14:1. 2010, 149:4, 5, eff. June 14, 2010. 2014, 14:1, eff. July 13, 2014.

Source history

  • 1987, 329:1
  • 1997, 14:1
  • 2010, 149:4, 5, eff. June 14, 2010
  • 2014, 14:1, eff. July 13, 2014

Related materials

Bill relationships

  • 2026 HB1064 reference · effective 2027-01-01

    t, school administrative unit or other district, to procure the policies of insurance described in RSA 412 or participate in pooled risk management, or self-insurance, pursuant to RSA 5-B. In any action against the state or any municipal subdivision thereof to enforce liability on account of a risk so insured against, the insuring company or state or municipal subdivision thereof shall not be allowed to

  • 2026 HB1064-FN reference · effective 2027-01-01

    t, school administrative unit or other district, to procure the policies of insurance described in RSA 412 or participate in pooled risk management, or self-insurance, pursuant to RSA 5-B. In any action against the state or any municipal subdivision thereof to enforce liability on account of a risk so insured against, the insuring company or state or municipal subdivision thereof shall not be allowed to

  • 2026 HB1127 reference

    d promise made otherwise than in the ordinary course of the promisor’s business to furnish support to the debtor or another person. II. For the purposes of RSA 545-B:4, I(b) and RSA 545-B:5, a person gives a reasonably equivalent value if the person acquires an interest of the debtor in an asset pursuant to a regularly conducted, noncollusive foreclosure sale or execution of a power of sale for the acquisi

  • 2026 HB1323 reference · effective 2027-01-01

    or fully insured and self-funded health plans. The assessment base would include covered lives in the state employee health plan, as well as pooled risk management programs under RSA 5-b. The funds provided for this purpose would be deposited in a dedicated fund administered by the insurance commissioner. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

  • 2026 HB1323-FN reference · effective 2027-01-01

    or fully insured and self-funded health plans. The assessment base would include covered lives in the state employee health plan, as well as pooled risk management programs under RSA 5-b. The funds provided for this purpose would be deposited in a dedicated fund administered by the insurance commissioner. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

  • 2026 HB1491 amend · effective 2029-07-01

    more political subdivisions for the purpose of jointly covering risk that is not organized and operated as an assessable risk pool regulated in accordance with the requirements of RSA 5-B. XII. "RBC instructions" means the RBC report including risk-based capital instructions adopted by the NAIC, as such RBC instructions may be amended by the NAIC from time to time in accordance with the procedures adop

  • 2026 SB409 reference · effective 2027-01-01

    t, school administrative unit or other district, to procure the policies of insurance described in RSA 412 or participate in pooled risk management, or self-insurance, pursuant to RSA 5-B. In any action against the state or any municipal subdivision thereof to enforce liability on account of a risk so insured against, the insuring company or state or municipal subdivision thereof shall not be allowed to

  • 2026 SB409-FN reference · effective 2027-01-01

    t, school administrative unit or other district, to procure the policies of insurance described in RSA 412 or participate in pooled risk management, or self-insurance, pursuant to RSA 5-B. In any action against the state or any municipal subdivision thereof to enforce liability on account of a risk so insured against, the insuring company or state or municipal subdivision thereof shall not be allowed to

  • 2026 SB498 reference

    or fully insured and self-funded health plans. The assessment base would include covered lives in the state employee health plan, as well as pooled risk management programs under RSA 5-b. The funds provided for this purpose would be deposited in a dedicated fund administered by the insurance commissioner. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

  • 2026 SB498-FN reference

    or fully insured and self-funded health plans. The assessment base would include covered lives in the state employee health plan, as well as pooled risk management programs under RSA 5-b. The funds provided for this purpose would be deposited in a dedicated fund administered by the insurance commissioner. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

  • 2026 SB605 amend

    Representatives in General Court convened: 1 New Subparagraphs; The State and Its Government; Pooled Risk Management Programs; Standards of Organization and Operation. Amend RSA 5-B:5, I by inserting after subparagraph (g) the following new subparagraphs: (h) Nothing in this paragraph shall be construed to mean that special assessments be required by statute. (i) If a pooled risk management pro

  • 2026 SB605-FN amend

    Representatives in General Court convened: 1 New Subparagraphs; The State and Its Government; Pooled Risk Management Programs; Standards of Organization and Operation. Amend RSA 5-B:5, I by inserting after subparagraph (g) the following new subparagraphs: (h) Nothing in this paragraph shall be construed to mean that special assessments be required by statute. (i) If a pooled risk management pro

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