Michigan Laws 418.501b – Assessments
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Terms Used In Michigan Laws 418.501b
- director: means the director of the bureau or his or her duly authorized representative. See Michigan Laws 418.201
- PEGSISF: means the fund created in subsection (4). See Michigan Laws 418.501
- Self-insurer: means either of the following:
(i) An individual employer authorized to carry its own risk. See Michigan Laws 418.601
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.