SECTION 810:25-9-6. Effectiveness of previously authorized permits, security deposits and guaranties

(a)   Individual own risk employer permits previously authorized by the Workers' Compensation Court Administrator pursuant to 85 O.S., § 351 and in effect on January 31, 2014 shall remain in full force and effect for the duration of the permit term thereafter, unless voluntarily terminated by the own risk employer or revoked by the Commission.

(b)   All security deposits and parental guaranties posted by an individual own risk employer with the Workers' Compensation Court Administrator pursuant to 85 O. S., § 351 before February 1, 2014 as a condition for the own risk employer to self fund its workers' compensation obligations, which are maintained by the Court Administrator and in effect on January 31, 2014, shall remain in full force and effect, pursuant to their respective terms, on and after February 1, 2014, notwithstanding assumption by the Commission of the Court Administrator's regulatory responsibilities regarding individual own risk employers beginning February 1, 2014. At that time, the Commission shall be considered the successor entity to the Workers' Compensation Court Administrator in all respects regarding the security deposit and parental guaranty, with full power and authority in its own name to make demand and collect thereon in the same manner and to the same extent as and if the Commission were the Court Administrator. The Commission may require an individual own risk employer to post an adequate replacement security deposit or parental guaranty, or both, made payable to the Commission.

[Source: Added at 31 Ok Reg 497, eff 2-4-14 (emergency); Added at 32 Ok Reg 1493, eff 8-27-15]