ENROLLED HOUSE BILL NO. 2395	By:	Hastings, Ervin, Covey, Turner, Seikel, Hefner, Begley, Leist and Mitchell of the House
		and
		Henry of the Senate

An Act relating to Workers’ Compensation; authorizing the State Insurance Fund to make advancements to the Multiple Injury Trust Fund for a particular purpose; providing for noncodification; providing for transfer of certain funds; limiting amount of transfer; providing for deposition of certain future dividends; and declaring an emergency.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:

      SECTION 1.      NEW LAW      A new section of law not to be codified in the Oklahoma Statutes reads as follows:

Until July 1, 2000, the State Insurance Fund may advance funds to the Multiple Injury Trust Fund to pay permanent total disability awards. Until the State Insurance Fund is repaid, the Fund may receive an administrative fee at a rate of seven percent (7%) of the outstanding balance calculated on an annual basis. If on or after July 1, 2000, there are advances still outstanding and the projected revenues of the Multiple Injury Trust Fund are insufficient to pay the permanent total disability awards as they become due, an amount equal to their share of used and unused premium credits or vouchers paid to state agency policyholders pursuant to the dividend issued on or around September 8, 1999, shall immediately be transferred by the state agency policyholders to the State Insurance Fund for the satisfaction of the outstanding advances and administrative fees. However, the maximum amount transferred shall not exceed the amount advanced to the Multiple Injury Trust Fund by the State Insurance Fund. The Multiple Injury Trust Fund shall use the same for payment of permanent total disability awards only.

     SECTION 2.      NEW LAW       A new section of law not to be codified in the Oklahoma Statutes reads as follows:

After the effective date of this act, all future dividends made by the State Insurance Fund on behalf of state agencies shall be deposited to the credit of the General Revenue Fund of the State Treasury.

      SECTION 3.       It being immediately necessary for the preservation of the public peace, health and safety, an emergency is hereby declared to exist, by reason whereof this act shall take effect and be in full force from and after its passage and approval.

     Passed the House of Representatives the 22nd day of March, 2000.

 

______________________________________________
Presiding Officer of the House of Representatives

     Passed the Senate the 22nd day of March, 2000.

 

______________________________________________
Presiding Officer of the Senate

     Approved by the Governor of the State of Oklahoma on the 22nd day of March, 2000

 

______________________________________________
Governor of the State of Oklahoma

Citationizer^� Summary of Documents Citing This Document

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Cite	Name	Level
None Found.

Citationizer: Table of Authority

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Cite	Name	Level
Title 21. Crimes and Punishments
	Cite	Name	Level
	21 O.S. 61,	Repealed	Cited
	21 O.S. 644,	Punishment for Assault and Battery	Cited
	21 O.S. 650,	Aggravated Assault and Battery upon Law Officers	Cited