{"data":{"id":"us-ok/okla.-stat.-tit.-85a-85a-98","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 85A, § 85A-98","heading":"Funds to be transferred to Self-insurance Guaranty Fund","body":"The Self-insurance Guaranty Fund shall be derived from the\n\nfollowing sources:\n\n1. Any unexpended funds, including interest thereon, held by\n\nthe State Treasurer in the Workers' Compensation Self-insurance\n\nGuaranty Fund transferred to the Self-insurance Guaranty Fund as\n\nprovided in Section 124 of this title;\n\n2. In the event the net fund balance falls below Seven Hundred\n\nFifty Thousand Dollars ($750,000.00), the Workers' Compensation\n\nCommission shall make an assessment against each private self-\n\ninsurer and group self-insurance association based on an assessment\n\nrate to be determined by the commissioners, not exceeding two\n\npercent (2%) per annum of actual paid losses of the self-insurer\n\nduring the preceding calendar year, payable to the Tax Commission\n\nfor deposit to the fund. The assessment against private self-\n\ninsurers shall be determined using a rate equal to the proportion\n\nthat the deficiency in the fund attributable to private self-\n\ninsurers bears to the actual paid losses of all private self-\n\ninsurers for the year period of January 1 through December 31\n\npreceding the assessment. The assessment against group self-\n\ninsurance associations shall be determined using a rate equal to the\n\nproportion that the deficiency in excess of the surplus of the Group\n\nSelf-Insurance Association Guaranty Fund at the date of the transfer\n\nattributable to group self-insurance associations bears to the\n\nactual paid losses of all group self-insurance associations\n\ncumulatively for any calendar year preceding the assessment. Each\n\nself-insurer shall provide the Workers' Compensation Commission with\n\nsuch information as the Commission may determine is necessary to\n\neffectuate the purposes of this paragraph. For purposes of this\n\nparagraph, \"actual paid losses\" means all medical and indemnity\n\npayments, including temporary disability, permanent disability, and\n\ndeath benefits, and excluding loss adjustment expenses and reserves.\n\na. The assessment shall be paid within thirty (30)\n\ncalendar days after the date the commissioners notify\n\nthe self-insurer of the assessment.\n\nb. A private employer or group self-insurance association\n\nwhich ceases to be a self-insurer shall remain liable\n\nfor any and all assessments of the self-insurer as\n\nprovided in this paragraph based on actual paid losses\n\nfor the calendar year period preceding the assessment.\n\nc. Failure of a self-insurer to pay, or timely pay, an\n\nassessment required by this paragraph, or to report\n\npayment of the same to the Commission within ten (10)\n\ndays of payment, shall be grounds for revocation by\n\nthe Commission of the self-insurer's permit to self-\n\ninsure in this state, after notice and hearing. A\n\nformer self-insurer failing to make payments required\n\nby this paragraph promptly and correctly, or failing\n\nto report payment of the same to the Commission within\n\nten (10) days of payment, shall be subject to\n\nadministrative penalties as allowed by law, including\n\nbut not limited to, a fine in the amount of Five\n\nHundred Dollars ($500.00) or an amount equal to one\n\npercent (1%) of the unpaid amount, whichever is\n\ngreater, to be paid and deposited to the credit of the\n\nWorkers' Compensation Commission Revolving Fund\n\ncreated in Section 28.1 of this title. It shall be\n\nthe duty of the Tax Commission to collect the\n\nassessment provided for in this paragraph. The Tax\n\nCommission is authorized to bring an action for\n\nrecovery of any delinquent or unpaid assessments, and\n\nmay enforce payment of the assessment by proceeding in\n\naccordance with Section 79 of this title.\n\nd. An impaired self-insurer shall be exempt from\n\nassessments beginning on the date of the Commission's\n\ndesignation until the Commission determines the self-\n\ninsurer is no longer impaired;\n\n3. Any interest accruing on monies paid into the fund; and\n\n4. Monies transferred pursuant to Section 99 of this title.","path":["OK Code","Title 85A"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os85A.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ead7bad691b193d846dd273959591195176c441e205a63213f6226f9d1aa4acc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-85a-85a-97","next":"us-ok/okla.-stat.-tit.-85a-85a-99"},"notice":"GroundRules: Original legal text. Not legal advice."}