Section 34-9-368 - Reimbursement of self-insured employers or insureds; actuarial study required; dissolution of Subsequent Injury Trust Fund(a) The Subsequent Injury Trust Fund shall not reimburse a self-insured employer or an insurer for a subsequent injury for which a claim is made for an injury occurring after June 30, 2006. The Subsequent Injury Trust Fund shall continue to reimburse self-insured employers or insurers for claims for injuries occurring on and prior to June 30, 2006, which qualify for reimbursement.(b) Self-insured employers and insurers shall continue to pay assessments pursuant to Code Section 34-9-358 to the extent necessary to fund claims for injuries occurring on and prior to June 30, 2006.(c) Upon or in contemplation of the final payment of all claims filed for subsequent injuries for which claims are filed for injuries occurring on and prior to June 30, 2006, the board of trustees shall adopt and implement resolutions providing for the final dissolution of the Subsequent Injury Trust Fund. Such resolutions shall become effective when all claims made for injuries occurring on and prior to June 30, 2006, have been fully paid or otherwise resolved and shall include provisions for: (1) The termination of assessments against insurers or self-insurers;(2) The pro rata refund of assessments previously collected and unexpended, consistent with the provisions of subsection (f) of Code Section 34-9-358;(3) The termination of employment of the employees of the fund or the transfer of employment of any employees to any other state agency desiring to accept them;(4) A final accounting of the financial affairs of the fund; and(5) The transfer of the books, records, and property of the fund to the custody of the Department of Insurance. Upon the completion of all matters provided for in such resolutions, but not later than December 31, 2025, the Subsequent Injury Trust Fund and the members of its board of trustees shall be discharged from their duties except for such personnel necessary to administer any remaining claims.
Amended by 2023 Ga. Laws 79,§ 1, eff. 7/1/2023.Amended by 2019 Ga. Laws 139,§ 1-98, eff. 7/1/2019.Amended by 2015 Ga. Laws 185,§ 7, eff. 7/1/2015.Amended by 2008 Ga. Laws 501,§ 2, eff. 7/1/2008.Amended by 2005 Ga. Laws 412,§ 1, eff. 5/10/2005.Added by 2004 Ga. Laws 455, § 1, eff. 7/1/2004.