(a) Each group self-insurer applicant shall execute an Agreement and Undertaking For Security Deposit (Form S-6 (1-2016)) as part of the application process.
(b) All security deposits shall be posted in accordance with the provisions of the Agreement and Undertaking, and shall permit the Director of Industrial Relations to order the security deposit to be utilized to pay benefits due pursuant to Labor Code Section 3701.5.
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 3-2-2009; operative 3-2-2009 pursuant to Government Code section 11343.4 (Register 2009, No. 10).
2. Amendment of subsection (a) filed 12-14-2016; operative 1-1-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 51).