407.132
Funds advanced by the association under this subchapter do not become assets of the impaired employer but are a special fund advanced to the commissioner, trustee in bankruptcy, receiver, or other lawful conservator only for the payment of compensation liabilities, including the costs of claims administration and legal costs. Acts 1993, 73rd Leg., ch. 269, […]
407a.051
(a) An association of employers that proposes to organize as a workers’ compensation self-insurance group shall file with the department an application for a certificate of approval. (b) The application must be in the form prescribed by the commissioner and must include: (1) the name of the group; (2) the location of the group’s principal […]
407a.053
(a) To obtain a certificate of approval, each group shall comply with the financial requirements adopted under this section. (b) The combined net worth of all employers who are members of the group must be at least $2 million. A member of the group may not be required to submit an audited financial statement to […]
407a.057
(a) In addition to the requirements under Section 407A.051, the commissioner may require a service company providing claim services to furnish a performance bond of $250,000 in the form prescribed by the commissioner. (b) In lieu of a performance bond under Subsection (a), a security deposit of cash or securities acceptable to the commissioner may […]
407a.201
(a) An employer who joins an approved workers’ compensation self-insurance group shall: (1) submit an application for membership to the board of trustees or its administrator; and (2) enter into the indemnity agreement as required by Section 407A.056. (b) The board of trustees shall maintain as a permanent record the employer’s application for membership and […]
407a.301
(a) Each group shall pay a self-insurance group maintenance tax under this section for: (1) the administration of the division of workers’ compensation of the department; (2) the prosecution of workers’ compensation insurance fraud in this state; (3) the research functions of the department under Chapter 405; and (4) the administration of the office of […]
407a.302
(a) Subject to Subsection (b), each group shall pay the maintenance tax imposed under Chapter 255, Insurance Code, for the administrative costs incurred by the department in implementing this chapter. (b) The tax liability of a group under this section is based on gross premium for the group’s retention and does not include premium collected […]
407a.303
(a) The group shall remit the taxes for deposit in the Texas Department of Insurance operating account to the credit of the division. (b) A group commits an administrative violation if the group does not pay the taxes imposed under Sections 407A.301 and 407A.302 in a timely manner. (c) If the certificate of approval of […]
407a.304
(a) Each group shall pay to the comptroller a premium tax on gross premiums for the group’s retention. The premium tax assessed under this subsection does not apply to premium collected for excess insurance. (b) The rate for the premium tax under this section is the rate assessed under Chapter 221, Insurance Code. Added by […]
407a.451
In this subchapter: (1) “Board” means the board of directors of the guaranty fund. (2) “Guaranty fund” means the Texas self-insurance group guaranty fund. (3) “Trust fund” means the trust fund established under Section 407A.457. Added by Acts 2005, 79th Leg., ch. 1055, § 1, eff. Sept. 1, 2005.