(820 ILCS 305/4a-8) (from Ch. 48, par. 138.4a-8)
Sec. 4a-8.
(a) The Board on behalf of the Commission shall have the right and
obligation to obtain reimbursement from an insolvent self-insurer for
compensation obligations in the amount of the insolvent
self-insurer's workers' compensation and occupational disease obligations assumed by
the Board on behalf of the Commission and paid from the Fund by the
Commission as directed by the Board, including but not limited to claims
for all benefits and reasonable administrative and legal costs. Any such
amounts obtained pursuant to this subsection shall be deposited by the
Commission into the Fund. The amount
of the claims for reimbursements of reasonable administrative and legal
costs shall be subject to the approval of the Chairman.
(b) The Board on behalf of the Commission shall have the right and
obligation to obtain from the security deposit of any insolvent
self-insurer, its excess insurance carrier and from any other guarantor the
amount of the insolvent self-insurer's workers' compensation and
occupational disease obligations assumed by the Board on behalf of the
Commission and paid from the Fund
by the Commission as directed by the Board, including reasonable
administrative and legal costs. Any such amounts obtained pursuant to this
subsection shall be deposited by the Commission into the Fund.
Reimbursement of reasonable administrative
and legal costs shall be subject to the approval of the Chairman. The
Board on behalf of the Commission shall be a party in interest in any
action or proceeding to obtain the security deposit of an insolvent
self-insurer for the payment of its compensation obligations,
and in any action or proceeding under the insolvent self-insurer's excess
insurance policy and in any other action or proceeding to enforce an
agreement of any security deposit, excess insurance carrier and from any
other guarantor to satisfy such obligations.
(Source: P.A. 84-1097.)
|