SROs Compensation Fund is one of the foundations on which is based the whole system of self-regulatory organization. The basis of the existence of a compensation fund — This principle of collective responsibility, in other words, the filler CF meet every member of SRO.
All of this requires that non-profit partnership very carefully and responsible approach to the question of whether to enroll one or another party in the SRO. The higher the requirements for those who want to join the SRO, the less likely it is that you have to pay compensation. Legal aspect of the Compensation Fund established in the articles of the Town Planning Code which are devoted to self-regulatory organizations. Solutions also about what should be the size of the contribution to the EC and the procedure for its formation are the competence of the meeting of members of SROs. The General Meeting also decides about the manner in which it is best to place the means of the compensation fund.
By the way, the law very strictly limited the payout rate of the compensation fund. These payments are made only in a few cases, for example, if there comes a subsidiary liability, or when there is a return of funds that were incorrectly listed.
In addition to caring for damages suffered because of the SRO members and those who have the approval of SRO, the law has a rather flexible position: in that case, when carrying out monetary payments do not have enough insurance coverage, some portion of the amount will have to be taken from the EC. This means that all the funds available to the compensation fund should necessarily be replenished to the original volume for a limited amount of time. In accordance with the Urban Planning Code, the term « a limited amount of time » refers to a period not exceeding two months (starting from the day when these payments were made).
The most recent amendments to the Act strengthened and improved built the system even more. At the moment, payments from the Fund are entitled to be carried out exclusively when the defendant (the company) can not produce them on their own. This regulation increases the scale of responsibility of organizations. In addition, it is logically justified, judging from the standpoint of balance and fairness of the SRO.