Section 12-11-21 - Procedure for obtaining acceptance of plans under section 392-41(a)(4) and (5), HRSAn employer who has an existing plan or a new plan, and who desires to be permitted to provide benefits thereunder in lieu of the statutory benefits for a class or classes of employees, shall apply in writing to the director to have the plan accepted. The employer shall, as a part of the application, and in a form prescribed by the director, file with the director:
(1) A statement setting forth the provisions of the plan and, if required by the director, a copy of the plan.(2) An agreement with the director to pay assessments for the special disability fund by the employer or the employer's carrier as the case may be pursuant to section 392-67(a) or (b), HRS.(3) A written agreement, satisfactory to the director, if the plan is one that under section 12-11-11(2), 12-11-12(b), or 12-11-15 requires an agreement, that the benefits under the plan will be continued with respect to all employees included under the plan for disabilities occurring prior to the date the employer files with the director written notice of termination of the plan.(4) Evidence satisfactory to the director that the obligation to pay benefits under the plan has been insured and is kept insured with an insurer duly authorized to transact the business of accident and health insurance in this State or proof satisfactory to the director of the financial ability to pay the benefits and otherwise complying with section 392-41(a)(2) and (3), HRS.[Eff 5/11/81;] (Auth: HRS § 392-91) (Imp: HRS §§ 392-41, 392-67)