§85A-28. Multiple Injury Trust Fund - Self-insurance Guaranty Fund.

309 words·~1 min read·/ok/title-85a-workers-compensation/85a-28

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A. There are established within the Office of the State Treasurer two separate funds:

1. The "Multiple Injury Trust Fund"; and

2. The "Self-insurance Guaranty Fund".

B. Except as provided in Section 97 of this title, no money shall be appropriated from these funds for any purpose except for the use and benefit, or at the direction, of the Oklahoma Workers' Compensation Commission.

C. Except as provided in Section 96 of this title, all funds established under this section shall be administered, disbursed, and invested under the direction of the Commission and the State Treasurer.

D. All incomes derived through investment of the Multiple Injury Trust Fund shall be credited as investment income to the fund that participated in the investment.

E. No monies deposited to these funds shall be subject to any deduction, tax, levy, or any other type of assessment.

F. If the balance in the Multiple Injury Trust Fund becomes insufficient to fully compensate those employees to whom it is obligated, payment shall be suspended until such time as the Multiple Injury Trust Fund is capable of meeting its obligations, paying all arrearages, and restoring normal benefit payments.

G. On the effective maturity dates of each investment, the investment shall be transferred to the State Treasurer for deposit into the Multiple Injury Trust Fund created in this section.

H. Unless provided otherwise in the Administrative Workers' Compensation Act, all fines and penalties assessed under the

Administrative Workers' Compensation Act shall be deposited into the Workers' Compensation Commission Revolving Fund. Any monies remaining in the Workers' Compensation Fund on June 30, 2015, shall be transferred to the Workers' Compensation Commission Revolving Fund. Added by Laws 2013, c. 208, § 28, eff. Feb. 1, 2014. Amended by Laws 2014, c. 169, § 1, emerg. eff. April 25, 2014; Laws 2015, c. 344, § 1, eff. July 1, 2015.