W. Va. Code R. § 85-11-10

Current through Register Vol. XLI, No. 50, December 13, 2024

Section 85-11-10 - Receivership and Insolvency Proceedings; Bankruptcy

10.1. In the event that a default employer owing payment and interest due thereon under Chapter twenty-three of the West Virginia Code or the rules promulgated thereunder, including, but not limited to, money owed to the Old Fund, money owed to the Uninsured Employers' Fund and money owed pursuant to liabilities accrued by the employer while the employer was self-insured, shall be operated in connection with a receivership or insolvency proceeding in any state court in this state, the court under whose direction such business is operated shall, by the entry of a proper order or decree in the cause, make provisions, so far as the assets in administration will permit, for the regular payment of such payments as the same become due.

10.2. In any such case as is described in subsection 10.1 of this section, the Commissioner may file such pleadings, motions, and other documents and take any other legal action necessary to protect the interests of West Virginia's workers' compensation market during the pendency and resolution of such case.

10.3. In the event that a default employer owing payment and interest under the provisions of chapter twenty-three of the West Virginia Code and the rules promulgated thereunder, including, but not limited to, money owed to the Old Fund, money owed to the Uninsured Employers' Fund and money owed pursuant to liabilities accrued by the employer while the employer was self-insured, files for or is placed in a bankruptcy proceeding under the laws of the United States, the Commissioner may become a party to such proceedings and take any and all actions needed to protect the interests of West Virginia's workers' compensation market during the pendency and resolution of the proceeding. The Commissioner may institute an involuntary proceeding against an employer in a bankruptcy court of the United States in any proper instance. All former premium tax assessments owed to the Old Fund and all surcharges and assessments owed by employers pursuant to chapter twenty-three of the West Virginia Code or the rules promulgated thereunder, including, but not limited to, the regulatory and Debt Reduction Fund surcharges and assessments pursuant to W. Va. Code § 23-2C-3(f), assessments and liabilities owed to the Uninsured Employers' Fund pursuant to W. Va. Code § 23-2C-8 and assessments for the Self-Insured Guaranty and Security Risk Pools as established in W. Va. Code § 23-2C-1, et seq. and 85CSR19 §1, et seq., are special revenue taxes under and according to the provisions of state workers' compensation laws and are deemed to be tax claims, as priority claims or administrative expense claims according to those provisions of law provided in the United States bankruptcy code.

W. Va. Code R. § 85-11-10