Indiana Code 27-1-29.1-9. Membership eligibility; rights and duties
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Sec. 9. All political subdivisions that satisfy the criteria for membership under the rules of the commission are eligible for membership in the fund. A political subdivision is not required to be a member of the political subdivision risk management fund under IC 27-1-29 to be eligible for membership in the fund established by this chapter. Each member of the fund:
(2) is entitled to the partial payment of certain liabilities from the fund under this chapter.
(1) shall contribute to the fund in the amount of the assessment charged the member under this chapter; and
Terms Used In Indiana Code 27-1-29.1-9
- commission: refers to the Indiana political subdivision risk management commission established by IC 27-1-29-5. See Indiana Code 27-1-29.1-1
- fund: refers to the political subdivision catastrophic liability fund established by this chapter. See Indiana Code 27-1-29.1-2
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- member: refers to any political subdivision that has a membership in the fund, as provided in section 9 of this chapter. See Indiana Code 27-1-29.1-4
- political subdivision: has the meaning set forth in IC 34-6-2-110. See Indiana Code 27-1-29.1-5
As added by P.L.272-1987, SEC.7.