39-71-2115. Transfer of claim liabilities -- rules.

124 words·~1 min read·/mt/title-39/chapter-71/part-21/39-71-2115

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39-71-2115 . Transfer of claim liabilities -- rules.

(1)A current or former self-insurer or group may transfer existing workers' compensation claim liabilities to another entity upon authorization from the department and concurrence of the Montana self-insurers guaranty fund by:

(a)submitting an application on a form designated by the department;

(b)completing an agreement of assumption and guarantee of workers' compensation liabilities;

(c)submitting a loss portfolio transfer agreement; and

(d)posting a security deposit.

(2)If the assuming entity fails to meet the terms of the transfer agreement, liability reverts to the original self-insurer.

(3)The entity assuming liability for a claim shall comply with all reporting requirements set by the department.

(4)The department shall adopt rules to implement this section.