Arizona Laws 38-840.13. Liquidation of the EODC disability program
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If the legislature determines that the EODC disability program is no longer to be operated for the purposes set forth in this article, any monies remaining in the EODC disability program trust fund after paying all liabilities of the program or after making adequate provision for paying those liabilities revert to the general funds of the employers that were making contributions to the EODC disability program at the time the legislature terminates the EODC disability program. The reverted monies shall be prorated according to the gross amount of contributions made by the employers to the EODC disability program.
Terms Used In Arizona Laws 38-840.13
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- program: means the elected officials' defined contribution retirement system disability program established by this article. See Arizona Laws 38-840