1. (1) A current or former self-insurer or group may transfer existing workers' compensation claim liabilities to another entity upon authorization from the department and concurrence of the Montana self-insurers guaranty fund by:

   1. (a) submitting an application on a form designated by the department;
   2. (b) completing an agreement of assumption and guarantee of workers' compensation liabilities;
   3. (c) submitting a loss portfolio transfer agreement; and
   4. (d) posting a security deposit.
2. (2) If the assuming entity fails to meet the terms of the transfer agreement, liability reverts to the original self-insurer.
3. (3) The entity assuming liability for a claim shall comply with all reporting requirements set by the department.
4. (4) The department shall adopt rules to implement this section.

History: En. Sec. 2, Ch. 112, L. 2009.