Towns asking court to stop LGC refunds, check legality
Ten New Hampshire municipalities, including Peterborough, Temple and Bennington, filed suit in Strafford County Superior Court Monday asking the court to stop the Local Government Center from issuing insurance refunds to other towns and school districts, as ordered by the N.H. Bureau of Securities Regulation, until the legality of the proposed distribution is reviewed. The Bureau of Securities had ruled that the LGC had improperly retained $36.3 million as surplus funds.
Chuck Douglas, attorney for the 10 towns, said in a press release that the Bureau of Securities chose an arbitrary date to determine which towns would get refunds, which was unfair to towns that had paid excess premiums but were not members of the LGC on the date of the order.
The suit asks the Superior Court to issue an injunction to prevent the payment of refunds .
— by Dave Anderson