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Ocga 349387 Reimbursement And Security Deposit From Participant For Compensation Obligations

(a)  The board of trustees shall have the right and obligation to obtain reimbursement from any participant for compensation obligations in the amount of the participant’s compensation obligations assumed by the board of trustees and paid from the fund by the board of trustees as directed by the board, including, but not limited to, claims for all benefits and reasonable administrative and legal costs.  The amount of the claims for reimbursement of reasonable administrative and legal costs shall be subject to the approval of the board of trustees.

(b)  The board of trustees shall have the right and obligation to use the security deposit of any participant, its excess insurance carrier, and of any other guarantor to pay the participant’s workers’ compensation obligation assumed by the board of trustees, including reasonable administrative and legal costs.  The amount of the claims for reimbursement of reasonable administrative and legal costs shall be subject to the approval of the board of trustees.

(c)  The board of trustees shall be a party in interest in any action or proceeding to obtain the security deposit of a participant for the payment of its compensation obligations, in any action or proceeding under the participant’s excess insurance policy, and in any other action or proceeding to enforce an agreement of any security deposit, excess insurance carrier, and from any other guarantor to satisfy such obligations.

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