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SEP 191979 <br />On renewal: <br />Baas 41 PnE5:30 <br />members with annual premium less than $50,000 may pay <br />•50% before October 31, and the balance before January 8 <br />of the next year. <br />members frith annual premiums between $50,000 and $100,000 <br />may pay 50% before October 31 and 25% on or before <br />January 8, and 25% on or before April 1, of the next year. <br />members with annual premium greater than $100,000 .may pay <br />25%,before October 31, and the balance in eleven equal <br />monthly installments on or before the lst of each month, <br />beginning November 1. <br />This policy will be strictly enforced and no exceptions will be <br />made unless specifically authorized by the Trustees. On renewal <br />premiums, members will be assessed an additional 5% of the <br />minimum amount due, if sufficient payment as described in the <br />above plan is made during the grace period between October 2 and <br />October 31. <br />All renewal billings will be sent to members early in September <br />and twill be accompanied by a 30 day cancellation notice Which <br />becomes effective October 31. If payment is not received by <br />then, the member is effectively cancelled and must re -apply to <br />the Fund. A 30 day cancellation notice will also accompany <br />interim billings such as installment billings or revised esti- <br />mated billings. Whenever a revised estimated billing results in <br />additional premium due the Fund, the additional premium will be <br />pro -rated over the remaining installment periods. Accounts with <br />no balance due have 30.days to pay additional premium assess- <br />ment.•• -Members will not be assessed a 5% penalty for payment <br />within the 30 day-4grace period for interim billings. <br />The Administrator wishes to advise all members that they will -be <br />billed approximately the same premium as they paid this -year. <br />It may however be prudent to budget an additional loo for w/c <br />Premium. Factors that will affect next year's premium are: <br />1. Significant changes in payrolls between last <br />premium billing date and September 30. <br />2. Significant changes in job classifications <br />between last billing date and September 30. <br />3. Significant change in exp, mod, between last <br />billing date and September 30. <br />4. Reduction of rates as defined by Section 125, <br />79-40, Laws of Florida. <br />D <br />E—A <br />-I <br />