§ 10-102. Injured Workers' Insurance Fund

   (a) Established. --

   (1) There is an Injured Workers' Insurance Fund.

   (2) The Fund is an instrumentality of the State.

(b) Insurer of last resort. -- On and after October 1, 2013, the Company, and not the Fund, shall serve as the workers' compensation insurer of last resort for workers' compensation insurance.

(c) Existence; new policies. -- On and after October 1, 2013, the Fund:

   (1) shall continue to exist; but

   (2) may not issue new policies or otherwise engage in the business of insurance.

(d) Third party administrator of the Self-Insured Workers' Compensation Program. -- On and after October 1, 2013, the Fund may continue to be the third party administrator for the State's Self-Insured Workers' Compensation Program for State Employees under a contract with the State.

(e) Employees. --

   (1) Subject to subsection (f) of this section, in the operation of the Company, the Company shall utilize employees of the Company.

   (2) In the operation of the Fund, the Fund shall utilize employees of the Fund.

   (3) The Fund shall:

      (i) maintain a payroll and human resources system; and

      (ii) be responsible for paying:

         1. the employer portion of any payroll or other taxes and retirement or pension contributions for employees of the Fund; and

         2. for any health or other employee benefits that are available to employees of the Fund.

(f) Employees -- Agreement. --

   (1) Employees of the Fund may be assigned to perform functions of the Company under a contract between the Fund and the Company.

   (2) The Company and the Fund shall annually execute an agreement that lists the employees of the Fund who have been assigned to perform duties on behalf of the Company.

   (3) The agreement shall:

      (i) specify the employees who will be utilized by the Company and the Fund;

      (ii) provide that, except with respect to assets necessary for the Fund to perform its duties under this subtitle, all assets and liabilities of the Fund are the assets and liabilities of the Company; and

      (iii) be filed with the Administration.

HISTORY: 2012, ch. 570, § 2.