[Code of Federal Regulations]
[Title 20, Volume 3]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 20CFR703.304]

[Page 913-914]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
  CHAPTER VI--EMPLOYMENT STANDARDS ADMINISTRATION, DEPARTMENT OF LABOR
 
PART 703--INSURANCE REGULATIONS--Table of Contents
 
Sec. 703.304  Filing of agreement and undertaking.

    The applicant for the privilege of self-insurance shall as a 
condition subsequent to receiving authorization to act as a self-
insurer, execute and file with the Office and agreement and undertaking 
in a form prescribed and provided by the Office in whch the applicant 
shall agree: (a) To pay when due, as required by the provisions of said 
Act, all compensation payable on account of injury or death of any of 
its employees injured within the purview of said Act; (b) in such cases 
to furnish medical, surgical, hospital, and other attendence, treatment 
and care as required by the provisions of said Act; (c) to deposit with 
the Office an indemnity bond in the amount which the Office

[[Page 914]]

shall fix, or to deposit negotiable securities as provided for by the 
regulations in this part in the amount which the Office shall fix, 
accordingly as elected in the application; (d) to authorize the Office 
to sell such negotiable securities so deposited or any part thereof and 
from the proceeds thereof to pay such compensation, medical, and other 
expenses and any accrued penalties imposed by law as it may find to be 
due and payable; and (e) to obtain and maintain, if required by the 
Office, excess or catastrophic insurance, in amounts to be determined by 
the Office.

[50 FR 407, Jan. 3, 1985]