MI Comp L § 418.501 (2021)
2021 Michigan Compiled Laws|Chapter 418 - Worker's Disability Compensation|Act 317 of 1969 - Worker's Disability Compensation Act of 1969 (418.101 - 418.941)|317-1969-5 - Chapter 5 Funds (418.501...418.561)|Section 418.501 - Self-Insurers' Security Fund and Second Injury Fund; Silicosis, Dust Disease, and Logging Industry Compensation Fund; Uninsured Employer's Security Fund; Private Employer Group Self-Insurers Security Fund; Definitions.

418.501 Self-insurers' security fund and second injury fund; silicosis, dust disease, and logging industry compensation fund; uninsured employer's security fund; private employer group self-insurers security fund; definitions.Sec. 501.  (1) A self-insurers' security fund and a second injury fund are created.  (2) A silicosis, dust disease, and logging industry compensation fund is created.  (3) An uninsured employer's security fund is created. The fund shall succeed to all of the assets, if any, of the former uninsured employer's security account of the workplace health and safety fund created in former section 723.  (4) The private employer group self-insurers security fund is created on January 1, 2020. The PEGSISF shall receive assessments from and be responsible for payment of eligible claims made against individual members of groups of self-insured private employers who pool their liabilities under this act as group funds in the manner provided in section 611, if the group is otherwise unable to pay.  (5) As used in this chapter:   (a) "Employment in the logging industry" means employment in the logging industry as described in the section in the workmen's compensation and employers liability insurance manual, entitled, "logging or lumbering and drivers code no. 2702," which is filed with and approved by the commissioner of insurance.  (b) "Private employer group self-insurers security fund" or "PEGSISF" means the fund created in subsection (4). History: 1969, Act 317, Eff. Dec. 31, 1969 ;-- Am. 1971, Act 149, Imd. Eff. Nov. 16, 1971 ;-- Am. 1980, Act 357, Eff. Jan. 1, 1982 ;-- Am. 1982, Act 32, Imd. Eff. Mar. 10, 1982 ;-- Am. 1993, Act 198, Eff. Dec. 28, 1994 ;-- Am. 2014, Act 228, Imd. Eff. June 27, 2014 Compiler's Notes: Section 3 of Act 198 of 1993 provides as follows:“Section 3. (1) Except as provided in subsection (2), this amendatory act shall not take effect unless the state administrative board certifies in writing to the secretary of state by December 31, 1994 that an agreement for the transfer of all or substantially all of the assets and the assumption of all or substantially all of the liabilities of the state accident fund has been consummated with a permitted transferee pursuant to the requirements of section 701a of the worker's disability compensation act of 1969, Act No. 317 of the Public Acts of 1969, being section 418.701a of the Michigan Compiled Laws, as added by this amendatory act.“(2) Sections 700 and 701a as added by this amendatory act shall take effect upon the date of enactment of this amendatory act.”For transfer of powers and duties of the board of trustees of the funds established in MCL 418.501 relating to management activities from the department of labor to the director of the department of consumer and industry services, see E.R.O. No. 1996-2, compiled at MCL 445.2001 of the Michigan Compiled Laws.Popular Name: Act 317