California Code of Regulations
Title 8 - Industrial Relations
Division 1 - Department of Industrial Relations
Chapter 8 - Office of the Director
Subchapter 2 - Administration of Self-Insurance Plans
Article 2 - Certificate of Consent to Self-Insure
Section 15203.1 - Agreement of Assumption and Guarantee of Subsidiary's or Affiliate's Liabilities
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
Each private subsidiary or affiliate applicant for a Certificate to Self Insure of an individual private self insurer shall provide an Agreement of Assumption and Guarantee of Liabilities executed by the holding company, ultimate parent corporation, controlling partners, owners, or other controlling entity in accordance with Section 15211.2 of these regulations. If the holding company, ultimate parent corporation, controlling partners, owners, or other controlling entity will not execute the Assumption and Guarantee agreement, the Director may:
(a) Require a deposit level of 200% of the master certificate holder's, subsidiary's or affiliate's estimated future liabilities for the payment of compensation, or higher, in lieu of the Agreement of Assumption and Guarantee of Liabilities; or
(b) Deny the application to self insure by the private applicant.
1. New
section filed 11-21-78; effective thirtieth day thereafter (Register 78, No.
47).
2. Amendment of section heading and text filed 12-22-92;
operative 1-21-93 (Register 93, No. 2).
3. Amendment filed 6-30-94;
operative 6-30-94 (Register 94, No. 26).
4. Amendment filed
3-2-2009; operative 3-2-2009 pursuant to Government Code section 11343.4
(Register 2009, No. 10).
Note: Authority cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 59, 3550, 3700, 3701, 3701.5, 3702, 3702.10 and 3705, Labor Code.
