§ 125.144. Revocation and voluntary termination of permit.
(a) Upon the revocation or voluntary termination of a permit under sections 805(a) or 808(c) of the act (77 P. S. § § 1036.5 and 1036.8), members shall insure their liabilities to pay compensation as required by the act.
(b) Upon the approval of the Bureau, a revoked or terminated fund may be allowed to operate as a runoff fund to pay claims incurred during the effective period of its permit from assets currently on hand or from assessments of its members. Absent this approval, a revoked or terminated fund shall make its best efforts to insure the workers’ compensation liability incurred prior to the revocation or termination of its permit with a carrier licensed to write workers’ compensation in this Commonwealth. The revoked or terminated fund shall pay insurance premiums from its assets and from assessments of its members, if necessary.
(c) Upon proof provided to the Bureau that a revoked or terminated fund is unable to obtain insurance coverage for the workers’ compensation liability incurred prior to the revocation or termination of its permit, the revoked or terminated fund shall operate as a runoff fund and shall pay claims on the liability from its assets and from assessments of its members.
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