Oregon Statutes 656.526 – Distribution of dividends from surplus in Industrial Accident Fund
(1) Periodically, the State Accident Insurance Fund Corporation shall determine the total liability existing against the Industrial Accident Fund.
Terms Used In Oregon Statutes 656.526
- 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.
(2) If, after the determination required by subsection (1) of this section, the State Accident Insurance Fund Corporation finds the Industrial Accident Fund, aside from the reserves deemed actuarially necessary according to recognized insurance principles, contains a surplus, the State Accident Insurance Fund Corporation in its discretion may, after providing for any payments to the state, taxes or other dispositions of surplus provided by law, declare a dividend to be paid to, or credited to the accounts of, employers who were insured by the State Accident Insurance Fund Corporation during all or part of the period for which the dividend is declared. Any dividend so declared shall give due consideration to the solvency of the Industrial Accident Fund, not be unfairly discriminatory and not be promised in advance of such declaration.
(3) An employer in default when the dividend is declared shall not be eligible to receive payment or the credit provided by subsection (2) of this section. [Amended by 1953 c.674 § 13; 1955 c.323 § 3; 1957 c.574 § 8; 1965 c.285 § 72; 1967 c.252 § 1; 1969 c.589 § 1; 1971 c.385 § 3; 1971 c.725 § 1; 1981 c.854 § 36; 1982 s.s.3 c.2 § 3; 1999 c.424 § 1]
[1969 c.536 § 2; 1971 c.768 § 2; 1975 c.556 § 43; 1981 c.535 § 23; 1990 c.2 § 32; 1991 c.93 § 10; 1995 c.641 § 7; repealed by 1999 c.273 § 1]
[1987 c.884 § 40; repealed by 1993 c.760 § 4]
[1973 c.669 § 2; repealed by 1973 c.669 § 4]