NH SB661

Establishes Secretary of State authority to require abatement of insufficient assets or seek receivership of pooled risk management programs that fail to meet financial requirements.

Requires participating political subdivisions to be assessed on a pro rata basis to cover deficiencies if a pooled risk management program becomes insolvent or financially impaired.

Mandates contingency reserve minimums of 30-40% of annual contributions for workers' compensation and property/casualty coverage, and 12-16% of annual contributions for health coverage.

Requires political subdivision members of health coverage programs to establish a stabilization fund of at least 4% of annual contributions to cover potential assessments, built at 1% per year.

Imposes fiduciary duties on governing board members including standards of care, diligence, prudence, and skill, and requires public disclosure that pooled risk programs are not insurers and may collect assessments from members.