SITF Board of Trustees Hearing - Friday, July 26, 2024 10am

The Board of Trustees of the Subsequent Injury Trust Fund schedules regular meetings on a quarterly basis; special meetings are called as needed. All board meetings are open to the public.

Notice is hereby given, pursuant to the Georgia Administrative Procedure Act, O.C.G.A. Sections 50-13-3, 50-13-4, 50-13-6 and 50-13-21, and pursuant to O.C.G.A Section 34-9-354, of the following proposal by the Board of Trustees to adopt Rules and Regulations of the Subsequent Injury Trust Fund. The Rules and Regulations of the Subsequent Injury Trust Fund proposed to be adopted are: Rule 622-2-.01(1)-(9), entitled Dissolution of the Board of Trustees.

SYNOPSIS AND EXPLANATION OF PROPOSED RULE

The purpose of the Rule proposed to be adopted is to provide for the dissolution of the Board of Trustees of the Subsequent Injury Trust Fund State of Georgia as required by O.C.G.A. Section 34-9-368, and to establish procedures for the pro rata refund of assessments as provided by O.C.G.A Section 34-9-358.  The proposed Rule continues the suspension of assessments until such time as further assessments are required; provides for the termination of assessments upon the disposition of all claims; requires that insurers and self insurers entitled to pro rata refunds have been in good standing in the payment of assessments; provides for the transfer of the employees of the Subsequent Injury Trust Fund to the Department of Insurance effective January 1, 2026; provides for the transfer of the books, records and other property of the Subsequent Injury Trust Fund to the Department of Insurance effective January 1, 2026; provides that the Administrator shall report to the Commissioner of Insurance effective January 1, 2026; provides that the fund shall transfer to the Commissioner of Insurance effective January 1, 2026; provides for a final accounting of the fund upon disposition of all claims; and provides for the circumstances under which any loss portfolio transfer or other reinsurance agreement may be made. 

SCHEDULE The aforesaid proposed rule is now on file in the office of the Administrator of the Subsequent Injury Trust Fund, 270 Washington Street, SW, Suite 3001D, Atlanta, GA 30334, and is hereby declared to be a public record as follows: Interested persons may participate in the proposed rulemaking process by submitting their written comments to Mike Pentecost, Administrator, 270 Washington Street, SW, Suite 3001D, Atlanta, GA 30334. 

All comments must be received by the Administrator by 4:30 P.M. on July 19, 2024. Interested persons may also participate in the proposed rule-making by submitting oral comments at the hearing to commence on July 26, 2024 at 10:00 a.m. in the offices of the Subsequent Injury Trust Fund, 270 Washington Street, SW, Suite 3001D, Atlanta, GA 30334.  Said hearing will be conducted virtually by video-conference.  Persons wishing to participate by video-conference should contact the Administrator for information regarding access to the video-conference.  Oral presentations during the hearing may be limited to five (5) minutes per person in order to afford all interested persons an opportunity to be heard.  If you have a physical impairment and require assistance or have any questions regarding this notice, please contact the Administrator.  Based upon full consideration of all written and oral comments regarding the above matters, the Board of Trustees may reject or adopt the proposed rule or may make changes to the proposed rule which may require another rule-making hearing. 

Direct All Correspondence To: Mike Pentecost, Administrator, Subsequent Injury Trust Fund, 270 Washington Street, SW, Suite 3001D, Atlanta, GA 30334, Telephone Number (404) 656-7013, [email protected]