Georgia Code, Title 34, Chapter 9, Article 5 - Group Self-Insurance Funds

• § 34-9-150 - Purpose of Article
  It is the intent of the General Assembly to provide an alternative mechanism through which bona fide members of trade associations and professional associations...
• § 34-9-151 - Definitions
  As used in this article, the term: (1) "Administrator" means any individual, partnership, or corporation, except a sponsoring association or associations, designated and authorized...
• § 34-9-151.1 - Eligibility for Establishing a Fund.
  (a) Any group or groups of employers who are engaged in similar business activities may establish a fund or funds provided that: (1) Such...
• § 34-9-151.2 - Filing of Intent to Form Fund; Notice of Intent to Refuse to Issue Certificate of Authority.
  (a) At least 30 days prior to executing the initial intrastate agreement required by this article, any group authorized to form a fund under...
• § 34-9-152 - Application to Commissioner for Certificate of Authority to Create Fund; Contents of Application; Filing Fee; Membership of Fund
  (a) Any group of municipalities, counties, school boards, or hospital authorities or any trade association or professional association or any other group authorized by...
• § 34-9-153 - Issuance of Certificate of Authority; Grounds for Denial or Revocation; Annual Renewal Fee
  (a) The Commissioner shall examine the application made under Code Section 34-9-152 to determine whether the fund will be able to comply with the...
• § 34-9-154 - Compliance With Workers' Compensation Obligations by Participation in Fund
  The participation by a member in a fund created pursuant to this article shall enable it to comply with its duty as an employer...
• § 34-9-155 - License Required for Solicitation of Membership or Participation in Fund; Procedure for Admission of New Members; Underwriting Criteria
  (a) Any other provision of law to the contrary notwithstanding, no person other than a trustee, officer, or administrator of the fund shall solicit...
• § 34-9-156 - Voluntary Termination of Members; Grounds and Procedure for Involuntary Termination of Membership; Effect of Voluntary or Involuntary Termination on Obligations
  (a) A member may elect to terminate voluntarily its participation in a fund by giving at least 90 days' advance written notice to the...
• § 34-9-157 - Boards of Trustees -- Appointment of Members
  Each fund created pursuant to this article shall be operated by a board of trustees chosen by the mutual agreement of the participating members...
• § 34-9-158 - Boards of Trustees -- Powers
  The board of the fund shall have the following specific powers, together with such other powers granted elsewhere in this article as may be...
• § 34-9-159 - Annual Reports of Affairs and Operations of Funds; Additional Periodic Reports; Verification of Reports; Compliance Condition for Renewal of Certificates
  On or before March 1 in each year after it shall have commenced to do business pursuant to a certificate of authority, every fund...
• § 34-9-160 - Method of Determining Financial Condition and Solvency of a Fund and Financial Capacity of Fund to Pay Obligations
  In determining the financial condition and solvency of a fund and the financial capacity of a fund to pay workers' compensation obligations promptly and...
• § 34-9-161 - Securities Deposit; Excess Loss Funding Program
  (a)(1) Each fund shall maintain a deposit consisting of securities eligible for deposit by domestic insurance companies in accordance with Chapter 12 of Title...
• § 34-9-162 - Maintenance of Surplus and Expendable Surplus; Waiver of Surplus Requirements; Return of Surplus to Members of Fund
  (a) A fund formed pursuant to this article shall possess and thereafter maintain a minimum surplus of not less than $200,000.00.(b) Any fund established...
• § 34-9-163 - Investment of Assets; Maintenance of Loss Reserves
  (a) Except as otherwise specifically provided for in this article, the investable assets of a fund shall be invested only in securities or other...
• § 34-9-164 - Payment of Operating Expenses by Members of Fund; Liability of Members; Payment by Funds of Expenses of State Board of Workers' Compensation; Legal Capacity of Funds
  (a) Each member shall pay into the fund its share of the fund's projected obligation for workers' compensation liability, administrative expenses, and other costs...
• § 34-9-165 - Requirements As to Contracts Between Funds and Administrators Not Employed by Funds
  (a) If a fund contracts with an administrator which is not an employee of the fund, the fund and the administrator must enter into...
• § 34-9-166 - Fiduciary Responsibilities of Trustees, Officers, or Administrators of Moneys
  Any trustee, officer, or administrator of a fund who receives, collects, disburses, or invests moneys in connection with the activities of the fund shall...
• § 34-9-167 - Bond, Liability Insurance, and Resident Office of Administrator
  (a) The Commissioner shall require each administrator to have and maintain a fidelity bond pursuant to Code Section 33-23-102.(b) Errors and omissions coverage or...
• § 34-9-168 - Grounds and Procedure for Restraining Transaction of Business by Fund or Administrator; Appointment of Receivers; Criminal Prosecution
  If the Commissioner finds that any fund or its administrator (1) has failed to comply with any provision of this article, (2) is fraudulently...
• § 34-9-169 - Revocation and Suspension of Certificates of Authority; Probation and Fine; Voluntary Dissolution or Termination of Functions
  (a) The Commissioner may revoke, suspend, or refuse to issue or renew the certificate of authority of any fund when and if, after investigation,...
• § 34-9-170 - Taxes -- Imposition; Deductions, Reductions, Abatements, and Credits
  Reserved. Repealed by Ga. L. 1990, p. 997, § 3, effective July 1, 1990.Title NoteChapter NoteArticle Note
• § 34-9-171 - Tax Exemption
  Funds organized and operating pursuant to this article shall be exempt from state and local premium taxes.
• § 34-9-172 - Examinations by Commissioner to Verify Solvency of Funds
  (a) The Commissioner shall have the authority to require and conduct periodic examinations to verify the solvency of funds in the same manner and...
• § 34-9-173 - Remedy of Deficiencies in Surplus or Reserve; Initiation of Insolvency Proceedings; Assessments Upon Liquidation
  (a) If the assets of a fund are at any time insufficient to enable a fund to discharge its legal liabilities and other obligations...
• § 34-9-174 - Promulgation of Rules and Regulations
  The Commissioner shall have authority to promulgate rules and regulations to effectuate the provisions of this article.
• § 34-9-175 - Hearings or Other Proceedings for Aggrieved Parties
  Any party which is aggrieved by any act, determination, order, or any other action of the Commissioner taken pursuant to this article may request...
• § 34-9-176 - Service of Process; Venue of Actions
  Except as otherwise provided in this article, service of process and venue shall be governed by the applicable provisions of Titles 9 and 14.
• § 34-9-177 - Funds Not to Be Deemed Insurers
  Notwithstanding any provisions of this article which might be construed to the contrary, no fund shall be considered an insurer for the purposes of...
• § 34-9-178 - Construction of Article
  Nothing in this article shall be construed to apply to employers who elect to self-insure individually for workers' compensation pursuant to Code Section 34-9-121...
• § 34-9-179 - Application of Chapter 6 of Title 33 to Funds; Enforcement by Commissioner
  Chapter 6 of Title 33 shall apply to "funds," as defined in this article; and, for the purpose of determining whether a violation of...
• § 34-9-180 - Officials of Funds Prohibited From Having Pecuniary Interests in Transactions; Exceptions
  (a) An officer, trustee, administrator, member of any committee, or employee of a fund who is charged with the duty of investing or handling...
• § 34-9-181 - Administrative Fines, Probation, or Additional Penalties
  (a) The Commissioner may, after a hearing, impose upon a fund an administrative fine if he finds that the fund, through the acts of...
• § 34-9-182 - Deadline for Compliance.
  Except where otherwise specified in this article, funds established pursuant to this article shall have until July 1, 1998, to comply with the requirements...

Last modified: October 14, 2016