Okla. Stat. tit. 85, § 85-398
This is the official text of Okla. Stat. tit. 85, § 85-398, part of Oklahoma’s Stat. tit. 85, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 85,." Browse the sections below, each linked to its official government source.
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Group self-insurers
Official statutory text
A. The Workers' Compensation Court shall adopt rules permitting
two or more employers not otherwise subject to the provisions of
Section 2b of this title to pool together liabilities under this act
for the purpose of qualifying as a group self-insurer and each such
employer shall be classified as a self-insurer.
B. The Court shall approve the distribution of all
undistributed policyholders' surplus of a Workers' Compensation
Self-Insurance Program if the Program complies with the following
criteria:
1. Has been in business for at least five (5) years;
2. Has its financial statements audited by a public accounting
firm which audits at least one corporate client which has assets in
Oklahoma Statutes - Title 85. Workers' Compensation Page 36
excess of One Billion Dollars ($1,000,000,000.00) and on which the
accounting firm has issued an unqualified opinion as to the fair
presentation of the financial position of the Program showing
adequate solvency and reserves; and
3. Is in compliance with the provisions of this title and all
other regulations as required by the Court.
C. A group self-insurer created pursuant to this section either
prior to or after the effective date of this act shall not be
subject to the provisions of the Oklahoma Uniform Securities Act of
2004.
two or more employers not otherwise subject to the provisions of
Section 2b of this title to pool together liabilities under this act
for the purpose of qualifying as a group self-insurer and each such
employer shall be classified as a self-insurer.
B. The Court shall approve the distribution of all
undistributed policyholders' surplus of a Workers' Compensation
Self-Insurance Program if the Program complies with the following
criteria:
1. Has been in business for at least five (5) years;
2. Has its financial statements audited by a public accounting
firm which audits at least one corporate client which has assets in
Oklahoma Statutes - Title 85. Workers' Compensation Page 36
excess of One Billion Dollars ($1,000,000,000.00) and on which the
accounting firm has issued an unqualified opinion as to the fair
presentation of the financial position of the Program showing
adequate solvency and reserves; and
3. Is in compliance with the provisions of this title and all
other regulations as required by the Court.
C. A group self-insurer created pursuant to this section either
prior to or after the effective date of this act shall not be
subject to the provisions of the Oklahoma Uniform Securities Act of
2004.
Status: in_force · Read it on the official government site
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