Assessment of all associations to provide for claims against insolvent association; Account for Insolvent Associations of Self-Insured Public or Private Employers created.
1. The Commissioner may assess all associations of self-insured public or private employers to provide for claims against any insolvent association.
2. All money received from such assessments must be deposited with the State Treasurer to the credit of the Account for Insolvent Associations of Self-Insured Public or Private Employers, which is hereby created in the Fund for Workers’ Compensation and Safety. Money in the Account must be used solely to carry out the provisions of this section. All claims against the Account must be paid as other claims against the State are paid. The State Treasurer shall invest money in the Account in the same manner and in the same securities in which he may invest money in the State General Fund. Income realized from the investment of the money in the Account must be credited to the Account.
Last modified: February 25, 2006