Laserfiche WebLink
<br />(d) to pay any federal, state or local income, employment, death or other tax which <br />may be properly imposed on or levied against Group Employee Benefit, Other Financial and <br />Risk Management Service, a Pool, or on benefits paid therefrom; <br /> <br />(e) to pay for any bond and to pay the premiums on any insurance purchased by a <br />Pool, including, but not limited to liability insurance, "stop loss" insurance and other insurance <br />intend\,:d to pay directly or indirectly the benefits established with respect to a Pool; and <br /> <br />(f) to pay the SC any service fee payable to it pursuant to, or authorized pursuant to, <br />this Agreement. <br /> <br />6.3 Investment of Program Funds. Program Funds shall be held and invested in a manner <br />that is consistent with any applicable legal requirements regarding the holding and investment of <br />funds by the Participant Members who are governmental units within the meaning of Minn. Stat. <br />471.59. <br /> <br />6.4 Withdrawal of Participant. In the event of the withdrawal of a Participant prior to the <br />termiIJiation of this Agreement or of a Pool, Program Funds attributable to contributions of such <br />Participant shall not be returned to such Participant. <br /> <br />6.5 Termination of Pool. In the event of termination of a Pool, any portion of the Program <br />Funds that has been designated for use solely in connection with the terminating Pool, and any <br />other portion allocated to the terminating Pool by the Board in its sole discretion, shall be <br />distributed to the Pool Participants in a manner to be determined by the Board, which may <br />includ~ the following: <br /> <br />(a) payment of benefits to or on behalf of emolled employees with respect to claims <br />arising prior to such termination; <br /> <br />I (b) provision of similar benefits for such employees; <br /> <br />(c) payment of reasonable and necessary expenses incurred in such termination; <br /> <br />(d) payment of taxes; and <br /> <br />(e) cash payments to Participant Members according to a formula established by the <br />Board. <br /> <br />Upon !such termination, the Board shall continue to serve for such period of time and to the <br />extenti necessary to carry out the directions of the preceding sentence. The Participants who <br />receive such distributions shall be solely responsible for determining whether, and to what <br />extent~ any amounts they receive will be distributed to individuals who were covered by benefit <br />progr.uns provided by the terminating Pool. <br /> <br />090299 <br /> <br />11 <br />