1. A. There is hereby created in the State Treasury the "Workers' Compensation Self-Insurance Guaranty Fund" to be administered, supervised and protected by the Workers' Compensation Self-Insurance Guaranty Fund Board. All self-insurers under the Workers' Compensation Code shall participate in the fund as a condition of authority to self-insure in this state, except public employers that self-insure pursuant to Section 13 of this act.

2. B.

   1. 1. The Workers' Compensation Self-Insurance Guaranty Fund Board shall consist of five (5) members to be appointed as follows:

      1. a. the Governor shall appoint two members, one of whom shall represent a private self-insurer, and one of whom shall represent an approved group self-insurance association authorized to self-insure pursuant to Section 51 of this act or Section 398 of this title,
      2. b. the President Pro Tempore of the Senate shall appoint one member who shall be an attorney licensed in this state who is engaged in the primary practice of workers' compensation law,
      3. c. the Speaker of the House of Representatives shall appoint one member who represents a private self-insurer, and
      4. d. the Workers' Compensation Court Administrator shall appoint one member who shall be a licensed claims adjuster affiliated with either a private self-insurer or an approved group self-insurance association.

   2. 2. The term of office for initial appointees shall be as follows:

      1. a. the term of office for three positions, one each appointed by the Governor, the President Pro Tempore of the Senate and Speaker of the House of Representatives, shall expire on November 1, 2014, and

      2. b. the term of office for two positions, one each appointed by the Governor and the Court Administrator, shall expire on November 1, 2013.

         Thereafter, successors in office shall be appointed for a three-year term. Members may succeed themselves in office. Any person appointed to fill a vacancy shall be appointed for the unexpired portion of the term in the same manner as the original appointment.

   3. 3. The chair and vice chair of the Board shall be elected by the Board from among its members.
   4. 4. Members of the Board shall receive no compensation for serving on the Board but shall be reimbursed from monies in the fund for their necessary travel expenses incurred in the performance of their duties in accordance with the State Travel Reimbursement Act.
3. C. Meetings of the Board shall be held at least quarterly. The presence of a simple majority of the members constitutes a quorum. No action shall be taken by the Board without the affirmative vote of at least a simple majority of the members.
4. D. The Office of the Attorney General shall provide legal counsel to assist the Board in the performance of its duties.

Added by Laws 2011, SB 878, c. 318, § 60.