§1168.4. Duties of the assistant secretary
A. Upon the default of any self-insured employer, the assistant secretary shall deposit
the proceeds from the security or the bond into an interest-bearing account. The interest
derived therefrom shall be used to offset the administration of claims. The office may
thereafter contract for the administration of claims from the account.
B. The assistant secretary shall immediately proceed to take such steps as are
necessary to administer the claims for benefits owed under this Chapter.
C. The assistant secretary, in addition to other powers, shall have the following
powers:
(1) To audit the books and records of the employer insofar as those records are
necessary to administer the claims for benefits owed under this Chapter.
(2) To enter into such agreements or contracts as are necessary to carry out the full
or partial plan for distribution.
(3) To enter into such agreements or contracts as are necessary to carry out the
administration of claims.
Acts 2006, No. 49, §1, eff. May 16, 2006.