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Oklahoma Administrative Code (Last Updated: March 11, 2021) |
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TITLE 810. Oklahoma Workers' Compensation Commission |
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Chapter 25. Workers' Compensation Insurance and Self Insurance |
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Subchapter 9. Individual Own Risk Employer Permit |
SECTION 810:25-9-2. Minimum eligibility requirements
Latest version.
- (a) Unless waived as provided in Subsection (b) of this Section and except for governmental entities subject to 810:25-9-11, to be eligible for an Individual Own Risk Employer Permit, the applicant must:(1) have been continuously engaged in business for not less than three (3) years immediately preceding the Application for Individual Own Risk Employer Permit;(2) have at least one hundred (100) employees (all states included); and(3) have at least One Million Dollars ($1,000,000.00) in net assets.(b) An applicant that does not satisfy the minimum eligibility requirements of Subsection (a) of this Section, may petition the Commission for a waiver of the requirements. The Commission may waive some or all of the requirements for good cause, subject to any security deposit and/or excess insurance requirements determined by the Commission to be appropriate should the permit be approved.