(a) Each private individual employer applicant for self-insurance shall execute an Agreement and Undertaking For Security Deposit (Form A-6 (1-2016) as part of the application process.
(b) Each security deposit shall be posted in accordance with the provisions of the Agreement and Undertaking For Security Deposit (Form A-6 (1-2016).
(c) The form of such Agreement and Undertaking For Security Deposit (Form A-6 (1-2016) shall be supplied by the Chief as part of the application (Form A-1 (1-2016)) for an individual private employer).
(d) The Agreement and Undertaking for Security Deposit Form A-6 (1-2016), included as part of the application shall confirm the applicant employer's agreement to secure incurred liability for the payment of compensation as a condition to issuance of a Certificate of Consent to Self-Insure by posting a security deposit with the State of California to be held by the Department of Industrial Relations in trust for the applicant employer, with power to the Director of Industrial Relations to order the sale or use of said security deposit to pay any compensation that may become due and of which said employer may be in default.
Note: Authority cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 59, 3701, 3701.5 and 3702.10, Labor Code.
1. New section filed 11-21-78; effective thirtieth day thereafter (Register 78, No. 47).
2. Renumbering and amendment of former section 15203.5 to section 15203.6 and renumbering and amendment of former section 15213 to section 15203.5 filed 12-22-92; operative 1-21-93 (Register 93, No. 2).
3. Amendment of subsection (c) and following Note filed 6-30-94; operative 6-30-94 (Register 94, No. 26).
4. Amendment filed 3-2-2009; operative 3-2-2009 pursuant to Government Code section 11343.4 (Register 2009, No. 10).
5. Amendment filed 12-14-2016; operative 1-1-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 51).