Second Substitute H.B. 463

Representative J. Stuart Adams proposes the following substitute bill:

1 WORKERS' COMPENSATION AMENDMENTS
2 2006 GENERAL SESSION
3 STATE OF UTAH
4 Chief Sponsor: J. Stuart Adams
5 Senate Sponsor: ____________
6
7 LONG TITLE
8 General Description:
9 This bill modifies provisions related to the Workers' Compensation Fund.
10 Highlighted Provisions:
11 This bill:
12 . addresses the legal nature of the Workers' Compensation Fund and its assets; and
13 . makes technical changes.
14 Monies Appropriated in this Bill:
15 None
16 Other Special Clauses:
17 None
18 Utah Code Sections Affected:
19 AMENDS:
20 31A-33-103, as last amended by Chapter 222, Laws of Utah 2000
21
22 Be it enacted by the Legislature of the state of Utah:
23 Section 1. Section 31A-33-103 is amended to read:
24 31A-33-103. Legal nature of Workers' Compensation Fund.
25 (1) The Workers' Compensation Fund is:

26 (a) a nonprofit, self-supporting, quasi-public corporation; [and]
27 (b) subject to statutes governing the Workers' Compensation Fund that may be enacted
28 or modified by the Legislature including:
29 (i) modifying the structure and management of the Workers' Compensation Fund;
30 (ii) adjusting the level of the state's influence on the Workers' Compensation Fund; and
31 (iii) modifying the state's involvement in administering workers' compensation
32 insurance; and
33 [(b)] (c) a legal entity, that may sue and be sued in its own name.
34 (2) All of the business and affairs of the corporation shall be conducted in the name of
35 the Workers' Compensation Fund or if conducted through a subsidiary, such other corporate
36 names that comply with state law.
37 (3) The Workers' Compensation Fund assets, including the Injury Fund:
38 (a) are not owned by the state, other than as a policyholder; and
39 (b) belong to the Workers' Compensation Fund policyholders.