Section 79A.11 — Reimbursement For Obligations Paid And Assumed.
79A.11 REIMBURSEMENT FOR OBLIGATIONS PAID AND ASSUMED. Subdivision 1. Insolvent insurer. The security fund shall have the right and obligation to obtain reimbursement from an insolvent private self-insurer up to the amount of the private self-insurer’s workers’ compensation obligations paid and assumed by the security fund, including reasonable administrative and legal costs. This right includes, […]
Section 79A.12 — Maintenance Of Assets Or Line Of Credit To Continue Payment Of Compensation Obligations.
79A.12 MAINTENANCE OF ASSETS OR LINE OF CREDIT TO CONTINUE PAYMENT OF COMPENSATION OBLIGATIONS. Subdivision 1. Assets maintained. The security fund shall maintain cash, readily marketable securities, or other assets, or a line of credit, approved by the commissioner, sufficient to immediately continue the payment of the compensation obligations of an insolvent private self-insurer pending […]
Section 79A.02 — Self-insurers’ Advisory Committee.
79A.02 SELF-INSURERS’ ADVISORY COMMITTEE. Subdivision 1. Membership. For the purposes of assisting the commissioner, there is established a Workers’ Compensation Self-insurers’ Advisory Committee of five members that are employers authorized to self-insure in Minnesota. Three of the members and three alternates shall be elected by the self-insurers’ security fund board of trustees and two members […]
Section 79A.03 — Self-insurance Applications.
79A.03 SELF-INSURANCE APPLICATIONS. Subdivision 1. Procedure. Each employer desiring to self-insure individually shall apply to the commissioner on forms available from the commissioner. The commissioner shall grant or deny the application within 60 days after a complete application is filed. The time limit may be extended for another 30 days upon 15 days’ prior notice […]
Section 79A.04 — Private Self-insuring Employer; Annual Renewal Or Deposit Of New Security For Payment Of Compensation.
79A.04 PRIVATE SELF-INSURING EMPLOYER; ANNUAL RENEWAL OR DEPOSIT OF NEW SECURITY FOR PAYMENT OF COMPENSATION. Subdivision 1. Annual securing of liability. Each year every private self-insuring employer shall secure incurred liabilities for the payment of compensation and the performance of its obligations and the obligations of all self-insuring employers imposed under chapter 176 by renewing […]
Section 79A.05 — Revocation Of Certificate To Self-insure.
79A.05 REVOCATION OF CERTIFICATE TO SELF-INSURE. A certificate to self-insure may be revoked by the commissioner at any time for good cause. After revocation, the self-insurer may request a hearing. Good cause includes, among other things, failure to maintain a security deposit as required by this chapter, failure to pay assessments of the self-insurers’ security […]
Section 79A.06 — Third-party Administrator.
79A.06 THIRD-PARTY ADMINISTRATOR. Subdivision 1. Certificate to self-insure. No person, firm, or corporation, other than an insurer admitted to transact workers’ compensation insurance in this state, shall contract to administer claims of self-insured employers as a third-party administrator unless qualified to do so pursuant to section 60A.23, subdivision 8. Subd. 2. Local office. A third-party […]
Section 79A.07 — Preferred Subrogation Rights Of Self-insurers’ Security Fund Or Surety.
79A.07 PREFERRED SUBROGATION RIGHTS OF SELF-INSURERS’ SECURITY FUND OR SURETY. The self-insurers’ security fund by making payment of compensation under this chapter has the same preference over the other debts of the principal or the principal’s estate as is given by law to the person directly entitled to the compensation. History: 1988 c 674 s […]
Section 79A.071 — Custodial Accounts.
79A.071 CUSTODIAL ACCOUNTS. Subdivision 1. Deposit. All securities shall be deposited with the commissioner of management and budget or in a custodial account with a depository institution acceptable to the commissioner of management and budget. Surety bonds shall be filed with the commissioner. The commissioner and the commissioner of management and budget may sell or […]
Section 79A.08 — Legislative Intent.
79A.08 LEGISLATIVE INTENT. It is the intent of the legislature in enacting sections 79A.08 to 79A.10 to provide for the continuation of workers’ compensation benefits delayed due to the failure of a private self-insured employer to meet its compensation obligations, whenever the commissioner of commerce issues a certificate of default or there is a declaration […]