A. The fund may be used to pay benefits to the worker or legal representative of the worker that are required of the self-insurer who becomes insolvent and otherwise unable to meet his financial obligations, provided that the injury or death occurred on or after January 1, 1992, or, in the case of an occupational disease, that the last injurious exposure occurred on or after January 1, 1992.
B. Notwithstanding the provisions of Subsection A of this section, the fund may only be used to pay benefits to an injured worker if the worker's injury occurs after the date on which the self-insurer is certified and has made a contribution to the fund.
History: Laws 1990 (2nd S.S.), ch. 2, § 116.
Effective dates. — Laws 1990 (2nd S.S.), ch. 2, § 153 made Laws 1990 (2nd S.S.), ch. 2, § 116 effective January 1, 1991.
Structure New Mexico Statutes
Chapter 52 - Workers' Compensation
Article 8 - Self-Insurers' Guarantee Fund Act
Section 52-8-4 - Scope of act.
Section 52-8-6 - Board powers and duties; liability.
Section 52-8-7 - Guarantee fund created; assessment for funding.
Section 52-8-8 - Fund liability period for guarantee fund.
Section 52-8-9 - Fund membership termination.
Section 52-8-10 - Withdrawal of certification; grounds.
Section 52-8-11 - Rules and regulations.
Section 52-8-12 - Regulations remain in effect; initial commission general members.