Massachusetts Regulations 452.5.06
From Wcc
§ 452.5.06 Cessation Of Business As A Self-Insurer
| (1) Any employer who has obtained a license as a self-insurer under the provisions of M.G.L. c.152, sec. 25A(2)(a) who thereafter ceases to be a self-insurer under said sub paragraphs, shall not be entitled to the return of the deposit for a period of at least six months following the date it ceases as a self-insurer as aforesaid, unless it furnishes a single premium non-cancellable policy as set forth in the foregoing mentioned sub-paragraph.
(2) An employer holding a license as a self-insurer who proposes to cease doing business in this commonwealth, or proposes to dispose of, by sale or otherwise, the controlling interests of the business for which the license was issued shall seasonably notify the department in writing of such proposed action. |
