(A)The following
methods may be used to satisfy the bonding amount for a group account:
(1)A surety bond,
in the bonding amount for the group, naming each member of the group as
principal;
(2)A deposit of
approved municipal or other bonds, in the bonding amount for the group; or
(3)Any combination
of surety bond and deposit of approved municipal or other bonds, in the bonding
amount for the group, that meets the requirements of paragraphs (A)(1) and
(A)(2) of this rule.
(B)The following
additional methods may also be used with regard to bonding for a group account:
(1)A separate
surety bond for each member of the group, naming such member as principal and
securing its obligation as a member of a group, in the amount of such
reimbursing employer's bonding amount, such bonding amount as determined
without respect to such member's membership in a group;
(2)A deposit of
approved municipal or other bonds, or approved securities, or other forms of
collateral security approved by the director, by each member of the group,
pledged for its separate liability as a member of the group, equal to the bonding
amount of a reimbursing employer, such bonding amount
as determined without respect to such member's membership in a group; or
(3)Any combination
of surety bond and deposit of approved municipal or other bonds, or approved
securities, or other forms of collateral security approved by the director, in
the bonding amount of each member of the group, such
bonding amount as determined without respect to such member's membership
in a group, that meets the requirements of paragraphs (B)(1) and (B)(2) of this
rule.
Effective: 10/1/2021
Five Year Review (FYR) Dates: 7/15/2021 and 10/01/2026
Certification: CERTIFIED ELECTRONICALLY
Date: 09/20/2021
Promulgated Under: 119.03
Statutory Authority: 4141.13
Rule Amplifies: 4141.241
Prior Effective Dates: 01/01/1972, 07/03/1986, 05/29/1990,
06/03/1996, 01/15/2001, 07/30/2018