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Arizona Administrative Code (Last Updated: November 17, 2016) |
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Title 20. COMMERCE, FINANCIAL INSTITUTIONS, AND INSURANCE |
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Chapter 5. INDUSTRIAL COMMISSION OF ARIZONA |
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Article 2. SELF-INSURANCE REQUIREMENTS FOR INDIVIDUAL EMPLOYERS AND WORKERS’ COMPENSATION POOLS ORGANIZED UNDER A.R.S. §§ 11-952.01(B) AND 41-621.01 |
Section R20-5-213. Substitution of Bond or Securities
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No bond or other security deposited as a condition precedent to val- idating a Resolution of Authorization to Self-insure shall be returned nor shall any substitution be allowed, except upon written order of the Commission. No return of such bond or other security shall be authorized except upon proof that the employer has placed with the Commission an amount or amounts as determined by the Commission to be sufficient to provide for the present value of all death benefits, awards, and determinations previously made by the Commission or the self-insurer, with an adequate contingency amount to apply to reopened claims that have been closed and become final during the period of self-insurance.
Historical Note
Former Rule XIII. Section repealed, new Section adopted effective July 6, 1993 (Supp. 93-3). R20-5-213 recodified from R4-13-213 (Supp. 95-1).