Title 62 — WORKERS' COMPENSATION

The Department of Labor and Regulation shall set, by rules promulgated pursuant to chapter 1-26 , the amount of the application fee. All fees paid to the department pursuant to this section shall be deposited with the state treasurer and shall be credited to the Department of Lab…

An employer seeking permission to be a self - insurer, or seeking renewal of its permission to be a self - insurer, shall furnish to the department, on a form required by the department, a bond, written by a surety company authorized by the division of insurance to write surety b…

As used in §§ 62-5-10 to 62-5-16 , inclusive, an irrevocable letter of credit shall be accepted only if it is clean, irrevocable, and contains an evergreen clause. Terms used in §§ 62-5-10 to 62-5-16 , inclusive, mean: (1) "Clean," a letter of credit that is not conditioned on th…

Surety bonds, irrevocable letters of credit, and documents showing issuance of any irrevocable letter of credit shall be deposited with, and, unless specified by statute, in a form approved by the department. Source: SL 1989, ch 453 , § 4.

Certificates of deposit or approved government securities shall be deposited on behalf of the department by the self-insured employer with the state treasurer or a financial institution approved by the department. Certificates of deposit or approved government securities shall be…

Cash shall be deposited in a financial institution approved by the department, and in the account assigned to the state treasurer. Cash shall be withdrawn only upon written order of the secretary of the Department of Labor and Regulation. Source: SL 1989, ch 453 , § 6; SL 2011, c…

Upon the secretary sending a request to renew, request to post, or request to increase a security deposit to the maximum amount permitted by §§ 62-5-10 to 62-5-16 , inclusive, a perfected security interest is created in the private self-insured's assets in favor of the secretary …

The secretary of the Department of Labor and Regulation may contract with any person, firm, or corporation qualified to administer claims of self-insured employers with respect to adjustment, administration, and management of workers' compensation claims for any self-insured empl…

Any employer may agree, as a condition of the employer's contract for the insurance of compensation and benefits as provided in Title 62, to pay an amount specified in the contract per claim toward the total amount of any claim payable under workers' compensation. The amount of p…

The existence of an insurance contract with a deductible or the fact of payment as a result of a deductible does not affect the requirement of an employer to report an injury or death as required in §

An employer may secure the payment of compensation to any employee by insuring and keeping insured the payment of the compensation with any stock corporation writing workers' compensation insurance or any mutual employer's liability association authorized to transact the business…

If an insured employer chooses a deductible, the insured employer is liable for the amount of the deductible paid for each claim of injury suffered by an employee. The insurer shall pay the entire cost of the employee's loss and then seek reimbursement from the insured employer f…

Any self-insured employer shall provide medical services and health care to injured workers for compensable injuries and diseases under a case management plan that meets the requirements established by rules promulgated by the Department of Labor and Regulation pursuant to chapte…

Repealed by SL 1996, ch 306 , § 2.

If an employer coming under the provisions of this title annually furnishes satisfactory proof to the Department of Labor and Regulation of the employer's solvency and financial ability to pay the compensation required by this title, the employer is relieved from the provisions o…

This state or any municipality or other political subdivision of the state need not furnish any insurance or security as provided by §§ 62-5-1 to 62-5-5 , inclusive, or §§ 62-5-10 to 62-5-12 , inclusive, but may do so if it desires. Source: SL 1923, ch 311 ; SDC 1939, § 64.0106 (…

Any employer other than the state, a municipality, or other political subdivision of this state, who has failed to comply with the provisions of §§ 62-5-1 to 62-5-5 , inclusive, shall be deemed to have elected not to operate under the provisions of this title. Source: SDC 1939, §…

No insurer of any obligation under this title may by himself, herself, or through another, either directly or indirectly, charge, accept, or pay as a commission or compensation for placing or renewing any insurance under this title more than fifteen percent of the premium charged…

If any insurance company operating under this chapter issues a policy of workers' compensation insurance to any employer, the company writing the insurance shall file a certificate thereof with the department. Source: SDC 1939, § 64.0506; SL 2008, ch 278 , § 38.