California Regulations 15426

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§ 15426 Release of Security Deposit

(a) Upon any revocation of a private employer's certificate to self-insure, a new deposit level shall be determined by the Manager to be sufficient to secure all actual and potential liabilities. The former self insurer shall continue to be responsible to increase the deposit at the written request of the Manager as required in Section 15210 of these regulations.

(b) Except as provided in Labor Code Section 3702.8(c), the deposit shall not be reduced below the statutory minimum pursuant to Labor Code Section 3701.

NOTE: Authority Cited: Sections 54, 55 and 3702.10, Labor Code. Reference: Sections 54, 55, 59, 129, 3700, 3701, 3701.5, 3702, 3702.3, 3702.6, 3702.10, 3703, 3705, 3740 - 3745, Labor Code.

HISTORY

1. Amendment of section heading and newly designated subsection (a), and new subsection (b) and Note filed 11-24-93; operative 12-24-93 (Register 93, No. 48).