Okla. Stat. tit. 85A, § 85A-97
This is the official text of Okla. Stat. tit. 85A, § 85A-97, 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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Self-insurance Guaranty Fund
Official statutory text
A. The Self-insurance Guaranty Fund shall be for the purpose of
continuation of workers' compensation benefits due and unpaid or
interrupted due to the inability of a self-insurer to meet its
compensation obligations because its financial resources, security
deposit, guaranty agreements, surety agreements and excess insurance
Oklahoma Statutes - Title 85A. Workers' Compensation Page 115
are either inadequate or not immediately accessible for the payment
of benefits. Monies in the fund, including interest, are not
subject to appropriation and shall be expended to compensate
employees for eligible benefits for a compensable injury under the
Administrative Workers' Compensation Act, pay outstanding workers'
compensation obligations of the impaired self-insurer, and for all
claims for related administrative fees, operating costs of the Self-
insurance Guaranty Fund Board, attorney fees, and other costs
reasonably incurred by the Board in the performance of its duties.
B. Monies transferred pursuant to Section 99 of this title may
be expended by the Board to provide a credit against the assessment
required to be paid by each private self-insurer and group self-
insurer association pursuant to Section 98 of this title.
C. Expenditures from the fund shall be made on warrants issued
by the State Treasurer against claims as prescribed by law. The
fund shall be subject to audit in the same manner as state funds and
accounts, the cost for which shall be paid for from the fund.
continuation of workers' compensation benefits due and unpaid or
interrupted due to the inability of a self-insurer to meet its
compensation obligations because its financial resources, security
deposit, guaranty agreements, surety agreements and excess insurance
Oklahoma Statutes - Title 85A. Workers' Compensation Page 115
are either inadequate or not immediately accessible for the payment
of benefits. Monies in the fund, including interest, are not
subject to appropriation and shall be expended to compensate
employees for eligible benefits for a compensable injury under the
Administrative Workers' Compensation Act, pay outstanding workers'
compensation obligations of the impaired self-insurer, and for all
claims for related administrative fees, operating costs of the Self-
insurance Guaranty Fund Board, attorney fees, and other costs
reasonably incurred by the Board in the performance of its duties.
B. Monies transferred pursuant to Section 99 of this title may
be expended by the Board to provide a credit against the assessment
required to be paid by each private self-insurer and group self-
insurer association pursuant to Section 98 of this title.
C. Expenditures from the fund shall be made on warrants issued
by the State Treasurer against claims as prescribed by law. The
fund shall be subject to audit in the same manner as state funds and
accounts, the cost for which shall be paid for from the fund.
Status: in_force · Read it on the official government site
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