§ 31-107.1. Trust account.

   (a) In general. -- The Board shall establish a trust account to hold premium payments accepted from qualified plan enrollees and small employers by the Exchange on behalf of a carrier under contract or other agreement.

(b) Function. -- The trust account may be used only to hold a premium payment until the Exchange transmits the premium payment to the carrier on whose behalf the Exchange accepted the premium payment.

(c) Separate records. -- The Exchange shall maintain separate records of account for each carrier on whose behalf it accepts premium payments.

(d) Payment deemed payment to carrier. -- The payment of a premium by an enrollee or a small employer to the Exchange is deemed to be a payment to the carrier on whose behalf the Exchange accepted the premium payment.

HISTORY: 2013, ch. 159, § 2.