Okla. Admin. Code § 810:25-11-15

Current through Vol. 42, No. 4, November 1, 2024

Section 810:25-11-15 - Indemnity agreements and power of attorney

(a) Every member of a group self-insurance association shall execute an indemnity agreement and power of attorney which shall set forth the rights, privileges and obligations of the member and the association and the powers and duties of the administrator. Such indemnity agreement and power of attorney shall be subject to the approval of the Commission and shall contain in substance the following:

(1) An agreement on a form approved by the Commission, under which each member agrees to assume and discharge, jointly and severally, liability under the AWCA of any and all employers party to such agreement;

(2) Provisions requiring that the members' supervisory board designate and appoint an administrator empowered to accept service of process on behalf of the association and authorized to act for and bind the association and members in all transactions either relating to or arising out of the operation of the association;

(3) Provisions for the right of substitution of the administrator and revocation of the power of attorney and right hereunder; and

(4) Provisions that clearly state all of the coverages of the policy.

(b) One copy of the indemnity agreement and power of attorney shall remain in the member's possession at the time the application for membership is made. One copy must be filed with the Commission.

(c) An affidavit of acknowledgment of joint and several liability, on a form approved by the Commission, must accompany the indemnity agreement and power of attorney, one copy shall remain with the member, and one copy must be filed with the Commission.

Okla. Admin. Code § 810:25-11-15

Adopted by Oklahoma Register, Volume 32, Issue 23, August 17, 2015, eff. 8/27/2015