Okla. Stat. tit. 85A, § 85A-102
This is the official text of Okla. Stat. tit. 85A, § 85A-102, part of Oklahoma’s Stat. tit. 85A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 85A,." Browse the sections below, each linked to its official government source.
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Pooled liabilities - Distribution of surplus
Official statutory text
A. The Workers' Compensation Commission shall adopt rules
permitting two or more employers, not otherwise subject to the
provisions of Section 150 of this act, 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 Commission 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;
Oklahoma Statutes - Title 85A. Workers' Compensation Page 119
2. Has its financial statements audited by a public accounting
firm which audits at least one corporate client which has assets in
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 act and all
other regulations as required by the Commission.
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.
permitting two or more employers, not otherwise subject to the
provisions of Section 150 of this act, 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 Commission 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;
Oklahoma Statutes - Title 85A. Workers' Compensation Page 119
2. Has its financial statements audited by a public accounting
firm which audits at least one corporate client which has assets in
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 act and all
other regulations as required by the Commission.
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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