(820 ILCS 305/4a-9) (from Ch. 48, par. 138.4a-9)
Sec. 4a-9.
The Board shall on behalf of the Commission
review fully all initial applications to self-insure
and all applications to renew employers' self-insurance privileges under
this Act and the Workers' Occupational Diseases Act filed by
private self-insurers and all related documentation filed in support of such
applications, and all related documentation filed at any other time with
the Commission. The Board shall advise the Chairman of the results of its
review and shall recommend for approval by the Chairman the disposition of
all such applications filed by private self-insurers. The Chairman shall
promptly act upon all applications in full accordance with the
recommendations of the Board or, if the Chairman does not concur with the
recommendations of the Board he shall within 30 days of receipt of the
recommendation of the Board advise the Board in writing of the reasons
supporting his decision. The Board may also request that the Chairman of
the Commission from time to time require private self insurers to file
additional information related to a private self-insurer's ability to
adequately secure payment of its financial obligations under such Acts.
The Board may recommend to the Chairman of the Commission conditional
approval of an application upon the furnishing of satisfactory evidence of
appropriate and adequate security by the private self-insurer applying for
self-insurer status to insure payment of its financial obligations under such Acts.
(Source: P.A. 85-1385.)
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