§ 3745. — 3745. (Amended by Stats. 2012, Ch. 363, Sec. 25.)

California § 3745.

• Jurisdiction: California
• Code LAB: Labor Code - LAB
• Div. 4.: DIVISION 4. WORKERS' COMPENSATION AND INSURANCE
• Part 1.: PART 1. SCOPE AND OPERATION
• Ch. 4.: CHAPTER 4. Compensation Insurance and Security
• Art. 2.5.: ARTICLE 2.5. Self-Insurers’ Security Fund

Text

(a)
The fund shall maintain cash, readily marketable securities, or other assets, or a line of credit, approved by the director, sufficient to immediately continue the payment of the compensation obligations of an insolvent self-insurer pending assessment of the members. The director may establish the minimum amount to be maintained by, or immediately available to, the fund for this purpose.
(b)
The fund may assess each of its members a pro rata share of the funding necessary to carry out the purposes of this article.
(c)
The trustees shall certify to the director the collection and receipt of all moneys from assessments, noting any delinquencies. The trustees
shall take any action deemed appropriate to collect any delinquent assessments.

Legislative History

Amended by Stats. 2012, Ch. 363, Sec. 25. (SB 863) Effective January 1, 2013.