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Industrial Commission Issues Memo on Security Deposits

Tuesday, June 7, 2016 | 0

The Idaho Industrial Commission issued a memorandum stating work comp insurance companies can use bonds issued by municipalities in the state to cover their security deposits. State lawmakers this year passed House Bill 501, clearing the way for carriers to cover security deposits using municipal bonds. The bill had unanimous support in the state House of Representatives and the Senate. Gov. Butch Otter signed it into law on March 30. The Industrial Commission said securities such as municipal bonds are valued at the “par value — sometimes called the nominal or fa...

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