2.55.324 PREMIUM RATESETTING - HORSE RACING AND BOARD INTERIM MODIFICATION OF RATES
(1) Payrolls for horse racing activities conducted at licensed Montana race tracks and hauling of horses between those race tracks from March 1 through September 30 of each year have been determined not to be sufficiently verifiable and a fee basis shall be used, except as provided in (2) below. The fee for each March 1 through September 30 period shall be based on the aggregate revenue requirement of this classification and allocated among the projected number of industry participants. This subsection will become effective October 1, 1994.
(2) The board, in lieu of a fee based policy for horse racing activities, may utilize classifications and establish loss-costs under ARM 2.55.319 for horse racing activities if a fee based policy is determined to be inappropriate.
(3) The State Fund may, with concurrence of the State Fund board of directors, adopt and implement changes to previously adopted rates. These changes may be based on, but are not limited to, statutory or other legal changes in benefits or costs, or revisions in actuarial indications. These rate changes shall be effective on a date and in such manner as determined by the board of directors, and shall apply to each policy for the remainder of the policy year to which the previously adopted rates apply, and for new and renewal policies.
History: 39-71-2315, 39-71-2316, MCA; IMP, 39-71-2211, 39-71-2311, 39-71-2316, 39-71-2330, MCA; EMERG, NEW, 1992 MAR p. 300, Eff. 2/28/92; AMD, 1992 MAR p. 907, Eff. 5/1/92; AMD, 1993 MAR p. 340, Eff. 3/12/93; AMD, 1994 MAR p. 1423, Eff. 5/27/94; AMD, 1994 MAR p. 2108, Eff. 8/12/94; AMD, 1994 MAR p. 3084, Eff. 12/9/94; AMD, 1996 MAR p. 410, Eff. 2/9/96; AMD, 1997 MAR p. 194, Eff. 1/28/97; AMD, 1998 MAR p. 158, Eff. 1/16/98; AMD, 2000 MAR p. 1033, Eff. 4/28/00; AMD, 2001 MAR p. 657, Eff. 4/27/01.