Assessment of self-insured employers to provide for claims against insolvent employers; Account for Insolvent Self-Insured Employers.
1. The Commissioner may assess all self-insured employers to provide for claims against any insolvent self-insured employer.
2. All money received from such assessments must be deposited with the State Treasurer to the credit of the Account for Insolvent Self-Insured 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 of the State General Fund. Income realized from the investment of the assets in the Account must be credited to the Account.
Last modified: February 25, 2006