39-71-2115. Transfer of claim liabilities -- rules. (1) A current or former self-insurer or group may transfer existing workers' compensation claim liabilities to another entity upon authorization from the department and concurrence of the Montana self-insurers guaranty fund by:
(a) submitting an application on a form designated by the department;
(b) completing an agreement of assumption and guarantee of workers' compensation liabilities;
(c) submitting a loss portfolio transfer agreement; and
(d) posting a security deposit.
(2) If the assuming entity fails to meet the terms of the transfer agreement, liability reverts to the original self-insurer.
(3) The entity assuming liability for a claim shall comply with all reporting requirements set by the department.
(4) The department shall adopt rules to implement this section.
History: En. Sec. 2, Ch. 112, L. 2009.
Structure Montana Code Annotated
Chapter 71. Workers' Compensation
Part 21. Compensation Plan Number One
39-71-2101. General requirements for electing coverage under plan
39-71-2102. Proof of solvency to be filed
39-71-2104. Renewal of application
39-71-2105. Additional proof of solvency -- revocation of order
39-71-2106. Requiring security of employer
39-71-2107. When employer to make deposit or security to guarantee payment of compensation
39-71-2108. Failure of employer to pay benefits -- duty of department