New York Codes, Rules and Regulations
Title 12 - DEPARTMENT OF LABOR
Chapter V - Workers' Compensation
Subchapter B - Self-insurers
Part 315 - Regulations
Section 315.1 - Application
Current through Register Vol. 46, No. 12, March 20, 2024
(a) Every employer desiring to become a self insurer shall make application in form prescribed by the chairman. This application shall contain:
(b) If, upon examination of the certified, independently audited financial statement and other data submitted, the chairman is satisfied as to the ability of the employer to make current compensation payments and that the employer's tangible assets and profit and loss history make the payment of all obligations that may arise under the Workers' Compensation Law, reasonably certain, the application may be granted subject to the conditions herein provided. The chairman will notify the employer of approval or nonapproval of his or her application within 120 days.