287.872. Powers and duties of division. - Missouri Statutes

Powers and duties of division.

287.872. 1. The division shall:

(1) Notify the corporation of the existence of an insolventemployer within a reasonable period of time, but not later, inany event, than ten working days after it receives notice of thedetermination of insolvency;

(2) Upon request of the board of directors, provide thecorporation with a statement of the annual modified standardpremiums of each member employer;

(3) Set up procedures to ensure the cooperation of thedirector and employees of the division with the board andindividual self-insurers acting under this section whereverpossible.

2. The division may:

(1) Require that the corporation notify the memberemployers and any other interested parties of the determinationof insolvency and of their rights under sections 287.860 to287.885. Such notification shall be by mail to the last knownaddress thereof when available; but, if sufficient informationfor notification by mail is not available, notice by publicationin a newspaper of general circulation in accordance with theapplicable law pertaining to same shall be sufficient;

(2) Suspend or revoke the authority of any member employerfailing to pay an assessment when due or failing to comply withthe plan of operation to self-insure in this state. As analternative, the division may levy a penalty on any memberemployer failing to pay an assessment when due. Such penaltyshall not exceed five percent of the unpaid assessment per month;

(3) Revoke the designation of any servicing facility,including third-party administrators, if the division, inconsultation and agreement with the corporation, finds thatclaims are being handled in an unsatisfactory manner.

(L. 1992 H.B. 975)