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53	53	STATE OF OKLAHOMA
54	54
55	55	1st Session of the 58th Legislature (2021)
56	56
57	57	SENATE BILL 604 By: Rader
58	58
59	59
60	60
61	61
62	62
63	63	AS INTRODUCED
64	64
65	65	An Act relating to the Self-insurance Guaranty Fund;
66	66	amending Section 98, Chapter 208, O.S.L. 2013, as
67	67	last amended by Section 1, Chapter 164, O.S.L. 2019
68	68	(85A O.S. Supp. 2020, Section 98), which relates to
69	69	funds to be transferred to Self -insurance Guaranty
70	70	Fund; removing certain Tax Commission notifi cation
71	71	requirement; and providing an effective date.
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77	77	BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
78	78	SECTION 1. AMENDATORY Section 98, Chapter 208, O.S.L.
79	79	2013, as last amended by Section 1, Chapter 164, O.S.L. 2019 (85A
80	80	O.S. Supp. 2020, Section 98), i s amended to read as follows:
81	81	Section 98. The Self-insurance Guaranty Fund shall be derived
82	82	from the following sources:
83	83	1. Any unexpended funds , including interest thereon, held by
84	84	the State Treasurer in the Workers ’ Compensation Self-insurance
85	85	Guaranty Fund transferred to the Self -insurance Guaranty Fun d as
86	86	provided in Section 124 of this title;
87	87	2. In the event the net fund balance falls below Seven Hundred
88	88	Fifty Thousand Dollars ($750,000.00) , the Workers’ Compensation
89	89
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140	140	Commission shall make an assessme nt against each private self -
141	141	insurer and group self -insurance association based on an assessment
142	142	rate to be determined by the commissioners, not exceeding two
143	143	percent (2%) per annum of actual pai d losses of the self -insurer
144	144	during the preceding calendar ye ar, payable to the Tax Commission
145	145	for deposit to the fund. The assessment against private self -
146	146	insurers shall be determined using a rate equal to the proportion
147	147	that the deficiency in the fund a ttributable to private self -
148	148	insurers bears to the actual paid losses of all private self -
149	149	insurers for the year p eriod of January 1 through December 31
150	150	preceding the assessment. The assessment against group self -
151	151	insurance associations shall be determined u sing a rate equal to the
152	152	proportion that the deficiency in ex cess of the surplus of the Group
153	153	Self-Insurance Association Guaranty Fund at the date of the transfer
154	154	attributable to group self -insurance associations bears to the
155	155	actual paid losses of all grou p self-insurance associations
156	156	cumulatively for any calendar y ear preceding the assessment. Each
157	157	self-insurer shall provide the Workers ’ Compensation Commission with
158	158	such information as the Commission may determine is necessary to
159	159	effectuate the purposes o f this paragraph. For purposes of t his
160	160	paragraph, “actual paid losses” means all medical and indemnity
161	161	payments, including temporary disability, permanent disability, and
162	162	death benefits, and excluding loss adjustment expenses and reserves.
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214	214	a. The assessment shall be paid within thirty (30)
215	215	calendar days after the d ate the commissioners notify
216	216	the self-insurer of the assessment.
217	217	b. A private employer or group self -insurance association
218	218	which ceases to be a self -insurer shall remain liable
219	219	for any and all assessments of the self -insurer as
220	220	provided in this paragraph b ased on actual paid losses
221	221	for the calendar year pe riod preceding the assessment.
222	222	c. Failure of a self-insurer to pay, or timely pay, an
223	223	assessment required by this paragraph, or to report
224	224	payment of the same to the Commission with in ten (10)
225	225	days of payment, shall be grounds for revocation by
226	226	the Commission of the self-insurer’s permit to self-
227	227	insure in this state, after notice and hearing. A
228	228	former self-insurer failing to make payments required
229	229	by this paragraph promptly and corr ectly, or failing
230	230	to report payment of the same to the Commission within
231	231	ten (10) days of payment, shall be subject to
232	232	administrative penalties as allowed by law , including,
233	233	but not limited to, a fine in the amount of Fiv e
234	234	Hundred Dollars ($500.00) or an am ount equal to one
235	235	percent (1%) of the unpaid amount, whichever is
236	236	greater, to be paid and deposited to the credit of the
237	237	Workers’ Compensation Commission Revolving Fund
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289	289	created in Section 28.1 of this title. It shall be
290	290	the duty of the Tax Commission to c ollect the
291	291	assessment provided for in this paragraph. The Tax
292	292	Commission is authorized to bring an action for
293	293	recovery of any delinquent or unpaid assessments, and
294	294	may enforce payment of the assessment by proceeding in
295	295	accordance with Section 79 of this t itle.
296	296	d. An impaired self-insurer shall be exempt from
297	297	assessments beginnin g on the date of the Commission ’s
298	298	designation until the Commission determines the self -
299	299	insurer is no longer impaired .
300	300	e. The Tax Commission shall determine the fund balance as
301	301	of March 1 and September 1 of each year, and when
302	302	otherwise requested by the Wor kers’ Compensation
303	303	Commission, and shall advise the Workers ’ Compensation
304	304	Commission in writing within thirty (30) days of each
305	305	such determination;
306	306	3. Any interest accruing on moni es paid into the fund; a nd
307	307	4. Monies transferred pursuant to Section 99 of this title.
308	308	SECTION 2. This act shall become effective November 1, 2021.
309	309
310	310	58-1-1143 QD 1/20/2021 10:31:15 PM

Oklahoma 2022 Regular Session

Oklahoma Senate Bill SB604 Compare Versions