Work comp board votes to withdraw lawsuit against state - ABC FOX Montana Local News, Weather, Sports KTMF | KWYB

Work comp board votes to withdraw lawsuit against state

Posted: Updated:

HELENA, Mont. (AP) - The Montana State Fund board of directors has voted to withdraw its lawsuit challenging a management fee passed during the special legislative session to help pay for the state's record fire season.
  
The board voted 5-2 Wednesday to drop the complaint. The temporary 3 percent management fee on state fund assets above $1 billion is expected to raise nearly $30 million over the next two years.
  
Board members voted 7-0 earlier this month to lobby against the proposed bill and to take legal action if it passed.
  
Gov. Steve Bullock appointed two new board members and re-appointed two others the day after the special session ended. All four voted Wednesday to withdraw the lawsuit.
  
Those who wanted to continue the lawsuit argued the board has a financial duty to policyholders.

  • Most Popular

Powered by Frankly

Features

  • More Features
  • Powered by WorldNow
    All content © Copyright 2000 - 2018 Cowles Montana Media. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.