If a certified self-insurer becomes an impaired employer, the
commissioner shall protect the employees of such employer by promptly:
(1) calling the security deposit and placing the funds
in an account for the impaired employer;
(2) notifying the Association or other entity designated
by the commissioner to assume the liabilities of the impaired employer;
to begin paying, pursuant to Texas Labor Code §407.127, benefits
out of the impaired employer's account; and, if necessary, to notify
the Association to begin paying benefits out of its trust fund; and
(3) estimating the amount of any additional funds needed
to supplement the security deposit and available assets of the impaired
employer and advise the Association of the amount the Association
will need to assess each certified self-insurer to cover the estimated
liabilities once the impaired employer's security account has been
expended.
|
| Source Note: The provisions of this §114.14 adopted to be effective January 1, 1993, 17 TexReg 7896; amended to be effective May 9, 2004, 29 TexReg 4186; amended to be effective January 6, 2019, 44 TexReg 99 |
