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§ 1037.2. Establishment of Self-Insurance Guaranty Fund

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 77 P.S. Workers’ Compensation

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 77 P.S. Workers' Compensation (Refs & Annos)
Chapter 7D. Self-Insurance Guaranty Fund (Refs & Annos)
77 P.S. § 1037.2
§ 1037.2. Establishment of Self-Insurance Guaranty Fund
Currentness
(a)(1) There is hereby established a special fund to be known as the Self-Insurance Guaranty Fund.
(2) The fund shall be maintained as two distinct custodial accounts in the State Treasury as separate and distinct accounts subject to the procedures and provisions set forth in this article.
(b) The moneys in each custodial account shall consist of security and assessments, as defined in section 907,1 and interest accumulated thereon.
(c) The administrator shall establish and maintain the following two distinct and separate custodial accounts. The moneys and other assets in each account are not to be commingled or used to pay claims from the other account.
(1) Custodial account for self-insured employers for the exclusive benefit of claims arising from defaulting individual self-insured employers.
(2) Custodial account for self-insurance pooling as defined under section 8012 for the exclusive benefit of claims arising from defaulting members of pooling arrangements.
(d) The secretary shall be the administrator of the fund and shall have the power to collect, dispense and disperse money from the fund.

Credits

1915, June 2, P.L. 736, No. 338, art. IX, § 902, added 1993, July 2, P.L. 190, No. 44, § 20, effective in 120 days.

Footnotes

1
77 P.S. § 1037.7.
2
77 P.S. § 1036.1.
77 P.S. § 1037.2, PA ST 77 P.S. § 1037.2
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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