§ 79A.19 — COMMERCIAL SELF-INSURANCE GROUPS; DEFINITIONS

Minnesota § 79A.19

• Jurisdiction: Minnesota
• Part: INSURANCE
• Ch. 79A: WORKERS' COMPENSATION SELF-INSURANCE

Text

Subdivision 1.Scope.
For the purposes of sections79A.19to79A.32, the terms defined in this section have the meanings given them. If there is any inconsistency between this section and section79A.01, the provisions of this section shall govern.

Subd. 2.Accountant.
"Accountant" means a certified public accountant who is not an employee of any member of the commercial self-insurance group and is not affiliated with any individual or organization providing services other than accounting services to the group.

Subd. 3.Actuary.
"Actuary" means an individual who has attained the status of associate or fellow of the Casualty Actuarial Society who is not an employee of any member of the commercial self-insurance group and is not affiliated with any individual or organization providing services other than actuarial services to the group.

Subd. 4.Common claims fund.
"Common claims fund" means the cash, cash equivalents, or investment accounts maintained by the commercial self-insurance group to pay its workers' compensation liabilities.

Subd. 5.Member.
"Member" means an employer that participates in a commercial self-insurance group.

Subd. 6.Commercial self-insurance group.
"Commercial self-insurance group" means a group of employers that are self-insured for workers' compensation under chapter 176 and elects to operate under sections79A.19to79A.32rather than sections79A.01to79A.18.

Subd. 7.Commercial self-insurance group security fund.
"Commercial self-insurance group security fund" means the commercial self-insurance group security fund established pursuant to this chapter.

Subd. 8.Trustees.
"Trustees" means the board of trustees of the commercial self-insurance group security fund.

Legislative History

1995 c 231 art 2 s 28