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(a) A self insurer, who because of a legal change in business or corporate structure or in its legal name, has had its self insurance privilege terminated may have its certificate to self insure reinstated without lapse, providing the employer can requalify for self insurance.
(b) To request reinstatement of a certificate to self insure, the applicant shall submit to the Manager a complete application and a statement that the applicant assumes and guarantees all workers' compensation liabilities incurred during its prior period of self insurance, and will be responsible for any additional self insured liabilities incurred after termination of its certificate to self insure. The Manager shall accept the statement of the employer's assumption of all past liabilities if signed by a corporate officer, attested to by the corporate secretary and sealed with the corporate seal. This must be confirmed within 90 days by execution of the standard Agreement of Assumption and Guarantee of Liabilities and an Assumption Resolution as part of the application before the certificate to self insure can be reinstated.
NOTE: Authority cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 59, 3700, 3701, 3702 and 3702.10, Labor Code.
HISTORY
1. New section filed 12-22-92; operative 1-21-93 (Register 93, No. 2).
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