(a) (1) (A) The Workers’ Compensation Commission is hereby authorized to recognize two separate entities formed under the Arkansas Nonprofit Corporation Act, §§ 4-28-201 — 4-28-206 and §§ 4-28-209 — 4-28-223, to function as guaranty funds for Arkansas workers’ compensation self-insurers in the private sector. (B) One (1) guaranty fund will be established for individual […]
The Workers’ Compensation Commission shall promulgate rules to implement this subchapter.
There shall be no liability on the part of, and no cause of action of any nature shall lie, whether at law or in equity, against any agent or employee of the two (2) corporations, their boards of directors, any Arkansas workers’ compensation self-insurer, or the Workers’ Compensation Commission or any of its representatives on […]
(a) Each corporation acting as the guaranty fund shall independently determine periodically the amount of money each Arkansas workers’ compensation self-insurer should contribute to each fund in order to provide an adequate pool of money to pay workers’ compensation benefits owed by an Arkansas self-insurer when such self-insurer fails to meet its workers’ compensation benefits […]
The Workers’ Compensation Commission shall report to the board of directors of each corporation when the commission has reasonable cause to believe that the payment of potential claims by an Arkansas workers’ compensation self-insurer is or may be jeopardized by the existing or potential financial condition of the self-insurer. The board of directors of the […]
(a) Moneys collected by the Workers’ Compensation Commission and disbursed to each corporation shall be vested in the corporation and shall not be deemed state property and shall not be subject to appropriation by the General Assembly. (b) Each corporation shall annually submit to an audit by an independent certified public accountant, and a copy […]
The board of directors of each corporation shall direct the investment of moneys in each workers’ compensation self-insurers guaranty fund, and all returns on the investments shall be retained in each fund. The moneys in each fund shall be used solely to compensate persons entitled to receive workers’ compensation benefits from an Arkansas self-insurer which […]
(a) Each corporation shall have full rights of subrogation against any source of payment or reimbursement for payments made by the corporation on behalf of an Arkansas workers’ compensation self-insurer. (b) Each corporation shall have a right of recovery through the maintenance of an action against any third party, other than a coemployee, who is […]
(a) Each corporation is also authorized to take all necessary action, including bringing an action at law or in equity, to seek any available relief as against any workers’ compensation self-insurer, whether the self-insurer has paid all assessments levied by the Workers’ Compensation Commission on behalf of the corporation. (b) If a corporation is required […]
All private sector participants in the Arkansas workers’ compensation self-insurers’ program may be members of one (1) of the corporations acting as guaranty funds, and the Workers’ Compensation Commission may revoke any such self-insurer’s authority to act as a workers’ compensation self-insurer if the self-insurer fails to maintain membership in the applicable corporation or fails […]
Any person or entity whose workers’ compensation self-insurer status is terminated shall thereafter be subject to no further assessments by the Workers’ Compensation Commission, but shall remain liable for all assessments due prior to the date of termination.
