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Chapter 8. Office of the Director
Subchapter 2. Administration of Self-Insurance Plans
Article 13. Group Self-Insurance

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§15472. Minimum Financial Requirements for a Group Self-Insurer.

(a) In addition to other requirements specified in this Article 13, no private group shall continue as a group self-insurer, unless it meets the funding and solvency requirements specified in section 15484(e) as demonstrated in independently audited financial statements meeting the requirements specified in section 15484(a) and (b) of this chapter. (Exception: A group self-insurer may continue if it is operating under a corrective action plan approved by the Chief.)
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).
2. Amendment of section heading and section filed 3-2-2009; operative 3-2-2009 pursuant to Government Code section 11343.4 (Register 2009, No. 10).
3. Amendment of section heading and section filed 12-14-2016; operative 1-1-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 51).


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