Mich. Comp. Laws § 418.501b

Current through Public Act 171 of the 2024 Legislative Session
Section 418.501b - Assessments

If the director determines that there is a reasonable likelihood that the remedies available under R 408.43s of the Michigan administrative code will be insufficient to meet the obligations of the trust, the director may assess private employer group self-insurers to the extent necessary to secure payment of benefits for which the private employer group self-insurers security fund may become responsible under this act and associated overhead and administrative expenses. The assessments shall be apportioned among the private employer group self-insurers based on each self-insurer group's proportion of the total paid losses, as defined in section 551(3)(b), of each private group self-insurer paid by private employer self-insured groups in the prior year. An assessment made under this section is payable to the PEGSISF.

MCL 418.501b

Added by 2014, Act 232,s 1, eff. 6/27/2014.