S-3852               _______________________________________________

                                                   SENATE BILL NO. 5019

                        _______________________________________________

State of Washington                              49th Legislature                              1986 Regular Session

By Senators Vognild, Newhouse and Warnke

Read first time 1/24/86 and referred to Committee on Commerce & Labor.

AN ACT Relating to the self-insurance insolvency fund; and adding a new section to chapter 51.44 RCW.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:

NEW SECTION. Sec. 1.  A new section is added to chapter 51.44 RCW to read as follows:

          (1) There shall be, in the office of the state treasurer, a fund to be known as the "self-insurance insolvency fund," which shall be used to pay unsecured benefits provided to injured workers under Title 51 RCW for insolvent or defaulting self-insured employers.

          (2) The administration of claims of an insolvent or defaulting self-insurer shall be under the jurisdiction of the department.

          (3) The self-insurance insolvency fund shall be funded by assessments levied on all self-insurers on a post-insolvency basis.

          (4) In the event of a self-insured insolvency or default, after exhausting the security available from the insolvent or defaulting self-insurer, an assessment for the self-insurance insolvency fund shall be imposed on all self-insurers pursuant to rules adopted by the director.