Section 8 AAC 46.015 - Requirements for a joint venture to apply and qualify for authorization to self-insure(a) The board may issue a certificate of self-insurance authorization to a joint venture if the partner with the majority interest in the joint venture is self-insured or qualified to be self-insured in this state and guarantees the workers' compensation obligations of the joint venture. In general, the joint venture must meet all the requirements of this chapter, and (1) the agreement under which the joint venture will operate must accompany the present application for self-insurance authorization;(2) the present application for self-insurance authorization must be filed with the board at least 60 days before the desired effective date when one partner is currently self-insured or at least 90 days before that date when there is no self-insured partner; and(3) each partner in the joint venture must submit the financial information required by 8 AAC 46.020(a) (3).(b) The board may for good cause, waive the requirement of 8 AAC 46.010(a) (4).(c) The requirements of 8 AAC 46.010(a) (1) and 8 AAC 46.020(d) do not apply to a joint venture seeking authorization to self-insure.(d) The combined financial statements of the partners and the factors listed in 8 AAC 46.030 will be used in considering the application for self-insurance authorization.(e) A certificate of self-insurance of a joint venture is valid only for the employees of the joint venture and not the employees of any of the partners of the joint venture. Any change of partners in the joint venture must be reported to the division no later than 30 days after the change of partners.(f) In addition to the other requirements of this chapter, an application for renewal of a certificate of self-insurance of a joint venture must be accompanied by the most recent audited financial statement of the joint venture.(g) A joint venture must give the division at least 60 days' written notice before termination of the joint venture. The notice must include the arrangements that have been or will be made to process present and future claims for which the joint venture is or may be responsible.Eff. 11/20/83, Register 88; am 6/20/2010, Register 194Authority:AS 23.30.005
AS 23.30.075
AS 23.30.090
AS 44.31.020