§ 15220.2. Listing of Security Deposit Amount Required.

(a) The Manager shall annually prepare a listing of the security deposit amount required to secure workers' compensation liabilities for each private self insured employer pursuant to Labor Code Section 3701 and Article 3 of this subchapter 2. This listing of required security deposits shall be calculated by using the total amount of liability reported on the private self insured employer's year-end Self Insurer's Annual Report, and shall reflect deposit adjustments from audit results, additions of subsidiaries or affiliates, each applicable rate of deposit, and/or other deposit adjustments as determined by the Manager for all private self insured employers. This list shall be submitted to the Director annually.

(b) Any private self insured employer that fails to file its Self Insurer's Annual Report as required by Section 15251 of this subchapter 2 by April 1 of each year shall be deemed by the Manager to have twice the liabilities indicated on the prior year's Annual Report for the purpose of determining and recording the required security deposit in the above listing.

(c) The Manager shall provide the listing of required security deposits to the Security Fund. The Manager may submit the listing in a series of partially complete lists as the Self Insurers' Annual Reports are processed each year.

HISTORY

1. New section filed 5-30-2003 as an emergency; operative 5-30-2003 (Register 2003, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-29-2003 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 5-30-2003 order transmitted to OAL 9-29-2003 and filed 11-12-2003 (Register 2003, No. 46).

Note

Note: Authority cited: Section 3701.8 and 3701.10, Labor Code. Reference: Sections 3701.8 and 3702.10, Labor Code.