38-797.14. Liquidation of LTD program
91 words·~1 min read·
/az/title-38/38-797-14A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the legislature determines that the LTD program is no longer to be operated for the purposes set forth in this article, any monies remaining in the LTD trust after paying all liabilities of the trust or after making adequate provision for paying those liabilities revert to the general funds of the employers that were making contributions to the LTD program at the time the legislature terminates the LTD program. The reverted monies shall be prorated according to the gross amount of contributions made by the employers to the LTD program.