§ 63.93. Filing of surety bond.
Nonprofit organizations subject to this subchapter electing to file a surety bond shall file with the Department a surety bond issued by an insurance company with a certificate of authority to provide such coverage in the Commonwealth. The term of the security bond shall coincide with the period for which the employer elects to make payments in lieu of contributions. The surety bond must secure reimbursement of benefit payments that are based on wages paid during the period of the election, including benefit payments made after the period of the election, together with interest and penalties.
Source The provisions of this § 63.93 amended September 24, 1976, 6 Pa.B. 2395; amended June 17, 2011, effective June 18, 2011, 41 Pa.B. 3094. Immediately preceding text appears at serial page (235590).
Cross References This section cited in 34 Pa. Code § 63.94 (relating to filing of security deposit).
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