Uncollectible premiums

The Director shall from time to time prepare and certify to the Legislature, through the Governor, a list showing in detail the dates and steps taken by the Government for the collection of unpaid premiums, interest, and penalties owed to the Workers’ Compensation Trust Fund as may have remained in arrears, wholly or partially, for more than ten fiscal years, and which in the judgment of the Director are uncollectible. If such claims are not cancelled or otherwise disposed of by the Legislature by the end of the regular session following the date of certification of the same to the Legislature, they shall be deemed cancelled and the Commissioner of Labor shall cause appropriate entries to be made in the records of the Workers’ Compensation Trust Fund.