A reimbursing employer's election to make payments in lieu of contributions shall be terminated if such employer fails to comply with:
(A) Any determination of the director increasing the bonding amount or requiring restoration of the unobligated security of an account; or
(B) Any determination of the director ordering that the market value of approved municipal or other bonds, or approved securities, or other forms of collateral security approved by the director, be deposited.
The termination of a reimbursing employer's election shall be effective beginning the first day of the calendar quarter following the employer's failure to comply with determinations provided in paragraph (A) or (B) of this rule.
Five Year Review (FYR) Dates: 01/06/2015 and 04/01/2020
Promulgated Under: 119.03
Statutory Authority: 4141.13
Rule Amplifies: 4141.241
Prior Effective Dates: 1/1/72, 7/3/86, 12/30/91, 6/3/96, 1/15/01