| Issue Date: | 2003-09-01 |
|---|---|
| Revised Date: |
Legal Cites
- Labor Code sec. 407A.053(d)
Origin:
2003 by H.B. 2095 and H.B. 3318, 78th Leg., R.S.
Purpose
Created to hold securities equal to the greater of $300,000 or 25% of an association of employers that organize as a workers' compensation self-insurance group's total liabilities for workers' compensation. May be provided by a surety bond, security deposit, or any combination. Used solely to pay claims and associated expenses and is payable on failure of the group to pay workers' compensation benefits that they are legally obligated to pay.
| Classification | Group 08: Trust Funds [?] |
|---|---|
| Depository Interest | Collected and transmitted to the depositor if the depositor is not in default, otherwise retained in the appropriated fund. |
| Disposition of Balance | Accumulative |
| Appropriation Technique | Not appropriated for state expenditure. |
Administering Agencies
Note
USAS Values
| USAS Title | WORK COMP SELF-INS GRP SEC TR FD |
|---|---|
| Consolidated Fund | |
| State Fund Group | 08 - TRUST FUNDS |
| USAS Status | I |
Those funds created to account for assets held by the state in a trustee capacity for individuals, private organizations or other governmental entities