Missouri Laws 287.870 – Plan of operation, submitted to division, when — purpose, contents — ..
1. By January 1, 1993, or at such other date as is agreed upon between the board and the director, the board of directors shall submit to the division of workers’ compensation a proposed plan of operation for the administration of the corporation and the insolvency fund.
2. The purpose of the plan of operation shall be to provide the corporation and the board of directors with the authority and responsibility to establish the necessary programs and to take the necessary actions to protect against the insolvency of a member of the corporation. In addition, the plan shall provide that the members of the corporation shall be responsible for maintaining an adequate insolvency fund to meet the obligations of insolvent members provided for in sections 287.860 to 287.885 and shall authorize the board of directors to contract and employ those persons with the necessary expertise to carry out this stated purpose.
Terms Used In Missouri Laws 287.870
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- division: as used in this chapter means the division of workers' compensation of the department of labor and industrial relations of the state of Missouri. See Missouri Laws 287.020
- employer: as used in this chapter shall be construed to mean:
(1) Every person, partnership, association, corporation, limited liability partnership or company, trustee, receiver, the legal representatives of a deceased employer, and every other person, including any person or corporation operating a railroad and any public service corporation, using the service of another for pay. See Missouri Laws 287.030
3. The plan of operation, and any amendments thereto, shall take effect upon submission in writing to the director. If the board of directors fails to submit a plan by six months after August 28, 1992, or fails to make required amendments to the plan within thirty days, or such other date as the parties shall agree upon, thereafter, the division shall promulgate such rules as are necessary to effectuate the provisions of this section. Such rules shall continue in force until modified by the division or superseded by a plan submitted by the board of directors to the director.
4. All member employers shall comply with the plan of operation.
5. The plan of operation shall:
(1) Establish the procedures whereby all the powers and duties of the corporation under section 287.865 will be performed;
(2) Establish procedures for handling assets of the corporation;
(3) Establish the amount and method of reimbursing members of the board of directors under section 287.862;
(4) Establish procedures by which claims may be filed with the corporation and establish acceptable forms of proof of covered claims. Notice of claims to the receiver or liquidator of an insolvent employer shall be deemed notice to the corporation or its agent, and a list of such claims shall be submitted periodically to the corporation by the receiver or liquidator;
(5) Establish regular places and times for meetings of the board of directors;
(6) Establish procedures for records to be kept of all financial transactions of the corporation and its agents and the board of directors;
(7) Provide that any member employer aggrieved by any final action or decision of the corporation may appeal to the division within thirty days after the action or decision;
(8) Provide notice to any member employer aggrieved by any final action or decision of the division of workers’ compensation of its rights to appeal such action or decision;
(9) Establish the procedures whereby recommendations of candidates for the board of directors shall be submitted to the division;
(10) Promulgate any additional provisions or any additional procedures or regulations necessary or proper for the execution of any of the powers and duties of the corporation or of the division of workers’ compensation, without prior formal hearing or notices, by either the corporation on its own motion, or by the division of workers’ compensation by regulations implementing sections 287.860 to 287.885;
(11) Establish procedures to ensure the cooperation of the board with the director and any of the employees of the division of workers’ compensation whenever possible.