Cal. Code Regs. tit. 8 § 15472

Current through Register 2024 Notice Reg. No. 44, November 1, 2024

Section 15472 - Minimum Financial Requirements for a Group Self-Insurer

(a) In addition to other requirements specified in this Article 13, no private group shall continue as a group self-insurer, unless it meets the funding and solvency requirements specified in section 15484(e) as demonstrated in independently audited financial statements meeting the requirements specified in section 15484(a) and

(b) of this chapter. (Exception: A group self-insurer may continue if it is operating under a corrective action plan approved by the Chief.)

Cal. Code Regs. Tit. 8, § 15472

1. New section filed 6-30-94; operative 6-30-94 (Register 94, No. 26).
2. Amendment of section heading and section filed 3-2-2009; operative 3-2-2009 pursuant to Government Code section 11343.4 (Register 2009, No. 10).
3. Amendment of section heading and section filed 12-14-2016; operative 1-1-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 51).

Note: Authority cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 3700, 3701, 3701.5, 3702, 3702.2 and 3702.10, Labor Code.

1. New section filed 6-30-94; operative 6-30-94 (Register 94, No. 26).
2. Amendment of section heading and section filed 3-2-2009; operative 3-2-2009 pursuant to Government Code section 11343.4(Register 2009, No. 10).
3. Amendment of section heading and section filed 12-14-2016; operative 1/1/2017 pursuant to Government Code section 11343.4(b)(3) (Register 2016, No. 51).