VETOES

policy of insurance shall be in the amount and shall contain the
provisions as in the judgment of the Commission are required to
provide security for the payment of compensation and medical
treatment. In order to be informed as to the continued financial
responsibility of any employer the Commission may require
reports from him annually or at any other times as the Commission
may deem necessary or advisable, and may examine the employer
under oath or make other examination of his business as the
Commission may determine. If he should fail to furnish
satisfactory proof, or give bond, or deposit securities as
required by the Commission, or if he should at any time fail to
render satisfactory reports to the Commission or otherwise
satisfy the Commission of its continued financial ability to pay
the compensation, he shall be subject to the provisions of the
first 1ST paragraph of this section; and shall be required by the
Commission to insure as provided in the first 1ST paragraph of
this section, unless he, at once, insures voluntarily as provided
in the second 2ND paragraph of this section.

(ii) The Commission may assess each
self-insurer or group of self-insured counties or municipalities
an annual sum of not more than $500 which shall be used for
actuarial studies and audits to determine the financial solvency.

(iii) For the purpose of this paragraph
"employer" includes a group . of counties, a group of
municipalities, or a group composed of both counties and
municipalities as prescribed by rules and regulations of the
Commission.

(iv) 1. The Workmen's Compensation Commission
shall develop rules and regulations prescribing requirements and
procedures for groups of counties, groups of municipalities, or
groups composed of both counties and municipalities seeking to
establish joint self-insurance coverage. However, to qualify as
a group for purposes of this section a group must prove to the
satisfaction of the Commission that it would receive annual gross
premiums in an amount of not less than $250,000.

2.  The Workmen's Compensation Commission
shall provide for advance premium discounts that are competitive
with private insurance advance premium discounts.

3.  A group that qualifies under the
provisions of this subparagraph shall obtain excess insurance in
amounts prescribed by the Workmen's Compensation Commission.

(v) A group of counties, a group of
municipalities, or a group composed of both counties and
municipalities may not be self-insured without first receiving a
certificate of authority to do business issued by the Workmen's
Compensation Commission.

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