19 Miss. Code. R. 5-4.08.4

Current through December 10, 2024
Section 19-5-4.08.4 - Obligations After Termination

Any Member whose membership in the Pool is terminated shall nevertheless continue to be governed by all Pool and Plan rules for all policy years for which the Member was a participant in the Pool. The Pool Administrator shall, as soon as reasonably practical following a Member's termination, estimate the balance of the Members account in the Pool based on information then available. At the discretion of the Pool Administrator, the Member's account shall be settled either by payment in full of the estimated amount due to or from the Member or by periodic distributions and /or assessments at the time and in the manner applicable to other Pool Members for the policy years for which the Member was a participant.

No payment to or from the terminated Member of the estimated balance of such Member's account shall in any way effect the Pool Administrator's right to make additional assessments against the terminated Member and/or demand reimbursement of amounts previously distributed to the terminated Member based on subsequent developments for the policy years for which the Member was a participant in the Pool.

Miss. Code Ann.§ 71-3-111 (Rev. 2011)

19 Miss. Code. R. 5-4.08.4