Go Back to Article 13 Table of Contents
| New query |
(a) Each applicant group and each group self insurer granted a Certificate to Self Insure shall have and maintain a minimum net worth as provided in Section 15203.2(f).
(b) The group administrator shall maintain a copy of the current and immediate past year's independently audited financial statement of each group member in the files of the group self insurer.
(c) The group administrator shall immediately advise the Manager in writing if at any time the consolidated net worth of the group members of the self insurer fall below the minimum amount set forth in subsection (a) of this section.
NOTE: Authority cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 3700, 3701, 3701.5, 3702, 3702.2 and 3702.10, Labor Code.
HISTORY
1. New section filed 6-30-94; operative 6-30-94 (Register 94, No. 26).
Go Back to Article 13 Table of Contents
| The above information is provided free of charge by the Department of Industrial Relations from its web site at www.dir.ca.gov. |