|SB 1066||Modifies provisions of the tort victims' compensation fund|
|LR Number:||3580S.03P||Fiscal Note:||3580-03|
|Last Action:||04/28/04 - Voted Do Pass H Judiciary Committee||Journal page:|
|Title:||SCS SB 1066|
|Effective Date:||August 28, 2004|
SCS/SB 1066 - This act modifies provisions of the tort victims' compensation fund. Tort victims of uninsured motorists whose claims were settled within the policy limits of applicable uninsured motorist insurance coverage are added to coverage from the fund.
The act provides that claims from the fund shall be paid on a pro rata basis before September 30th in the next succeeding year based upon the annual claims period in which the application to the fund was made. Currently, claims from the fund are paid in chronological order with the oldest claim being paid first. If no funds are available for the payment of claims, the division of workers' compensation is authorized to suspend any investigation or hearing of claims until such time as moneys in the fund exceed $500,000. Currently, the division is authorized to suspend action on claims until such time as the fund exceeds $100,000. Once an award is paid in full or on a pro rata basis, a claimant cannot collect additional payment from the fund.
This act contains an emergency clause.