287.872. Powers and duties of division.
278 words·~1 min read·
/mo/chapter-287/287-872A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
287.872. Powers and duties of division. — 1. The division shall:
(1)Notify the corporation of the existence of an insolvent employer within a reasonable period of time, but not later, in any event, than ten working days after it receives notice of the determination of insolvency;
(2)Upon request of the board of directors, provide the corporation with a statement of the annual modified standard premiums of each member employer;
(3)Set up procedures to ensure the cooperation of the director and employees of the division with the board and individual self-insurers acting under this section wherever possible.
2. The division may:
(1)Require that the corporation notify the member employers and any other interested parties of the determination of insolvency and of their rights under sections 287.860 to 287.885 . Such notification shall be by mail to the last known address thereof when available; but, if sufficient information for notification by mail is not available, notice by publication in a newspaper of general circulation in accordance with the applicable law pertaining to same shall be sufficient;
(2)Suspend or revoke the authority of any member employer failing to pay an assessment when due or failing to comply with the plan of operation to self-insure in this state. As an alternative, the division may levy a penalty on any member employer failing to pay an assessment when due. Such penalty shall not exceed five percent of the unpaid assessment per month;
(3)Revoke the designation of any servicing facility, including third-party administrators, if the division, in consultation and agreement with the corporation, finds that claims are being handled in an unsatisfactory manner.
--------
(L. 1992 H.B. 975)