2014 Regular Session SB 1558 Enrolled

• At the request of: (at the request of Senate Interim Committee on Business and Transportation)
• Bill Title: Relating to self-insurance coverage for workers' compensation claims; and declaring an emergency.

Catchline/Summary

Authorizes Director of Department of Consumer and Business Services to pay compensation due to workers of members of certain decertified self-insured employer groups and to set standards by rule for proof of financial viability of self-insured employer and for insurance coverage retention and combined net worth of members of self-insured employer group. Prohibits certain group members and board members of groups from serving as group administrator. Authorizes director to revoke certification of self-insured employer in default and for violation of rules. Authorizes director to take certain actions when self-insured employer group is in default, is decertified or cancels its certification. Modifies requirements for ending cash balance in Workers' Benefit Fund.

Requires group administrator to provide group members written notice of consequences of possible outcomes of required vote. Requires each self-insured employer group to conduct vote on continuation of group and report results to director by April 15, 2014 July 1, 2014. Instructs Workers' Compensation Management-Labor Advisory Committee to conduct study about modification of ending balance requirement and report results to Legislative Assembly.

Declares emergency, effective on passage April 1, 2014.

• Chapter Number: Chapter 48
• Fiscal Impact: Fiscal Impact Issued
• Revenue Impact: No Revenue Impact
• Current Location: Chapter Number Assigned