Minnesota Statutes 79A.19 – Commercial Self-Insurance Groups; Definitions
Subdivision 1.Scope.
For the purposes of sections 79A.19 to 79A.32, the terms defined in this section have the meanings given them. If there is any inconsistency between this section and section 79A.01, the provisions of this section shall govern.
Subd. 2.Accountant.
Terms Used In Minnesota Statutes 79A.19
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
Terms Used In Minnesota Statutes 79A.19
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
“Accountant” means a certified public accountant who is not an employee of any member of the commercial self-insurance group and is not affiliated with any individual or organization providing services other than accounting services to the group.
Subd. 3.Actuary.
“Actuary” means an individual who has attained the status of associate or fellow of the Casualty Actuarial Society who is not an employee of any member of the commercial self-insurance group and is not affiliated with any individual or organization providing services other than actuarial services to the group.
Subd. 4.Common claims fund.
“Common claims fund” means the cash, cash equivalents, or investment accounts maintained by the commercial self-insurance group to pay its workers’ compensation liabilities.
Subd. 5.Member.
“Member” means an employer that participates in a commercial self-insurance group.
Subd. 6.Commercial self-insurance group.
“Commercial self-insurance group” means a group of employers that are self-insured for workers’ compensation under chapter 176 and elects to operate under sections 79A.19 to 79A.32 rather than sections 79A.01 to 79A.18.
Subd. 7.Commercial self-insurance group security fund.
“Commercial self-insurance group security fund” means the commercial self-insurance group security fund established pursuant to this chapter.
Subd. 8.Trustees.
“Trustees” means the board of trustees of the commercial self-insurance group security fund.