New Hampshire SB661: relative to pooled risk management programs.

What the bill says

An act relative to pooled risk management programs. Sen. Gray, Dist 6 COMMITTEE: Finance ----------------------------------------------------------------- AMENDED ANALYSIS This bill: I. Enables the secretary of state to require abatement of insufficient assets or to seek receivership, if necessary, of a pooled risk management program. II. Requires assessment of each participating member of the pooled risk management program on a pro rata basis to satisfy the amount of the deficiency. III. Requires the governing board of the pooled risk management program to use a standard of care, diligence, p.

From the enrolled text, June 4, 2026:

AN ACT relative to pooled risk management programs. Sen. Gray, Dist 6 COMMITTEE: Finance ----------------------------------------------------------------- AMENDED ANALYSIS This bill: I. Enables the secretary of state to require abatement of insufficient assets or to seek receivership, if necessary, of a pooled risk management program. II. Requires assessment of each participating member of the pooled risk management program on a pro rata basis to satisfy the amount of the deficiency. III. Requires the governing board of the pooled risk management program to use a standard of care, diligence, prudence, and skill in the management of the program. IV. Provides for the assessment of a pooled risk management program's participating members, if required, after an actuarial calculation. V. Provides for contingency reserve standards depending on the pooled risk management programs line of coverage and requiring a contingency reserve replenishment if a program's contingency reserves fall below the minimum level. VI. Requires pooled risk management programs to make certain public disclosures to prospective and actual member political subdivisions. VII. Makes technical corrections to the pooled risk management program chapter. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - …

Read the full official text

Sponsors

• Sharon Carson (R, 14) · primary sponsor