AN ACT AUTHORIZING THE TOWN OF DARTMOUTH TO ESTABLISH A TRUST FUND FOR POLICE OFFICER MEDICAL BENEFITS.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
Notwithstanding any general or special law, rule or regulation to the contrary, the town of Dartmouth may establish and maintain a Medical Claims Trust Fund into which amounts may be appropriated by town meeting to reimburse work-related medical claims for police officers, under sections 100 and 100B of chapter 41 of the General Laws. Costs of insurance or reinsurance for these medical claims and outside claims services may be disbursed from said funds. The town treasurer shall be the custodian of said fund and may deposit the proceeds in national banks or invest the proceeds by deposit in savings banks, cooperative banks or trust companies organized under any general or special law, or invest the same in such securities as are legal for the investment of funds of savings banks under any general or special law or in federal savings and loan associations situated in the commonwealth. Any interest or return of premium or claims advance, excluding dividends applicable to sections 8 or 8A of said chapter 44, shall be added to and become part of the fund. The treasurer shall invest and reinvest such funds to the extent not required for current disbursement as determined by the town. Any interest liability incurred as the result of processing a tax anticipation loan authorized by section 4 of said chapter 44, and directly related to the establishment or the continuance of the Medical Claims Trust Fund, shall be chargeable to said fund. The treasurer shall assure a sufficient balance at all times in said fund to make prompt payment for incurred and unpaid claims and other related liabilities.