relative to pooled risk management programs.

Summary

The bill would give the secretary of state authority to order corrective actions or place a pooled risk management program into receivership when its assets are insufficient. It also requires participating municipalities to be assessed proportionally to cover any shortfall, sets minimum reserve levels, and mandates public disclosure of program information. The goal is to protect public funds and ensure careful management of shared insurance pools.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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