Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2780 - WORKERS' COMPENSATION SELF-INSURANCE
INDIVIDUAL SELF-INSURERS
Part 2780.1600 - SALE OR MERGER OF SELF-INSURER
Universal Citation: MN Rules 2780.1600
Current through Register Vol. 49, No. 13, September 23, 2024
When a self-insurer is sold to or merged with another entity, the self-insurer shall give notice to the commissioner within 30 days of the sale or merger. At that time, the new owner shall file a consolidated financial statement, and the commissioner shall have the discretion to revoke the employer's authority to self-insure if the consolidated financial statement does not meet the requirements of part 2780.1200, subparts 1 and 2. The burden shall be on the new owner to qualify pursuant to parts 2780.1100 to 2780.1800.
Statutory Authority: MS s 176.181
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