As used in this part, unless the context requires otherwise, the following definitions apply:

1. (1) "Board" means the board of directors of the Montana self-insurers guaranty fund.
2. (2) "Fund" means the Montana self-insurers guaranty fund established pursuant to 39-71-2609.

3. (3) "Insolvent private self-insurer" means an employer:

   1. (a)

      1. (i) that is unable to pay workers' compensation claims because:

         1. (A) it has been determined to be insolvent by a court of competent jurisdiction; or
         2. (B) bankruptcy proceedings have been instituted by or against it; or
      2. (ii) whose claims are not being paid on its behalf; and
   2. (b) whose security has been exhausted pursuant to 39-71-2108.
4. (4) "Member" means an employer bound by compensation plan No. 1 that participates in the Montana self-insurers guaranty fund.
5. (5) "Private self-insurer" means a private employer bound by compensation plan No. 1 that has secured the payment of workers' compensation claims pursuant to 39-71-2101.

History: En. Sec. 3, Ch. 244, L. 1989.