[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: 20CFR703.308]

[Page 915]
 
                      TITLE 20--EMPLOYEES' BENEFITS
 
  CHAPTER VI--EMPLOYMENT STANDARDS ADMINISTRATION, DEPARTMENT OF LABOR
 
PART 703--INSURANCE REGULATIONS--Table of Contents
 
Sec. 703.308  Substitution and withdrawal of negotiable securities.

    No substitution or withdrawal of negotiable securities deposited by 
a self-insurer shall be made except upon authorization by the Office. A 
self-insurer discontinuing business, or discontinuing operations within 
the purview of said Act, or providing security for the payment of 
compensation by insurance under the provisions of said Act may apply to 
the Office for the withdrawal of securities deposited under the 
regulations in this part. With such application shall be filed a sworn 
statement setting forth:
    (a) A list of all outstanding cases in each compensation district in 
which compensation is being paid, with the names of the employees and 
other beneficiaries, giving a description of causes of injury or death, 
and a statement of the amount of compensation paid; (b) a similar list 
of all pending cases in which no compensation has as yet been paid; and 
(c) a similar list of all cases in which injury or death has occurred 
within 1 year prior to such application or in which the last payment of 
compensation was made within 1 year prior to such application. In such 
cases withdrawals may be authorized by the Office of such securities as 
in the opinion of the Office may not be necessary to provide adequate 
security for the payment of outstanding and potential liabilities of 
such self-insurer under said Act.