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California Labor Code

§ 3745

LAB § 3745 Effective Jan 1, 2013Div. 4 · Part 1 · Ch. 4 · Art. 2.5

Statute text

View on leginfo.ca.gov
(a)The fund shall maintain cash, readily marketable securities, or other assets, or a line of credit, approved by the director, sufficient to immediately continue the payment of the compensation obligations of an insolvent self-insurer pending assessment of the members. The director may establish the minimum amount to be maintained by, or immediately available to, the fund for this purpose.
(b)The fund may assess each of its members a pro rata share of the funding necessary to carry out the purposes of this article.
(c)The trustees shall certify to the director the collection and receipt of all moneys from assessments, noting any delinquencies. The trustees shall take any action deemed appropriate to collect any delinquent assessments.

Legislative history

Amended by Stats. 2012, Ch. 363, Sec. 25. (SB 863) Effective January 1, 2013.

Source: California Labor Code § 3745 from the California Legislative Information (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.