(a) The Chief 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 pursuant to Sections 15210 and 15496 and/or other deposit adjustments as determined by the Chief 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 required Self-Insurer's Annual Report and Actuarial Study and Summary by May 1 of each year shall be deemed by the Chief to have twice the liabilities indicated on the prior year's Actuarial Summary for the purpose of determining and recording the required security deposit in the above listing.
(c) The Chief shall provide the listing of required security deposits to the Security Fund by May 15 each year.
Note: Authority cited: Section 3701.8 and 3701.10, Labor Code. Reference: Sections 3701.8 and 3702.10, Labor Code.
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 A Certificate of Compliance must be transmitted to OAL by 9-29-2003 or emergency language will be repealed by operation of law on the following day.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).
3. Amendment filed 12-14-2016; operative 1-1-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 51).