ELIGIBILITY REQUIREMENTS


Must be a member in good standing with one of the following trade associations:

• Construction Association of MI.(C.A.M.)
• Grand Rapids & Western MI. Builders Exchange
• Kalamazoo Builders Exchange
• Washtenaw Builders Exchange

The Trustees must deem the company to be acceptable and financially sound. Have current ratio of at least 1 to 1 (current assets at least equal to current liabilities), and positive net worth.

It is established that the company is contractor or subcontractor, or is a supplier of materials for the construction industry and derive 80% or more of its income directly from within the construction industry. Each participant, which is a supplier, shall stipulate in writing that it meets this test. Have an experience modification rate of 1.10 or lower.

Regularly employ on a permanent basis three (3) or more employees at one time. The partners, officers or stockholders will not be included on the above eligibility requirement in determining qualification in the plan. Must supply at minimum:

• Five (5) years Loss History
• Five (5) years Payroll Experience
• Two (2) years Financial Statement

$750 minimum premium applies.

The Plan Administrator may approve an applicant who meets the criteria. Any applicant for coverage that does not satisfy the criteria relating to minimum and/or experience of five (5) years may be admitted to participation only upon approval by the trustees, which approval may be subject to review by the bureau and by the excess insurance carrier.