31A-33-102 - Establishment of the Workers' Compensation Fund and the Injury Fund. - Utah Statutes

31A-33-102. Establishment of the Workers' Compensation Fund and the InjuryFund.
(1) (a) There is created a nonprofit, quasi-public corporation to be known as the Workers'Compensation Fund created by this chapter.
(b) The purpose of the fund is to:
(i) insure Utah employers against liability for compensation based on job-relatedaccidental injuries and occupational diseases; and
(ii) assure payment of this compensation to Utah employees who are entitled to it underTitle 34A, Chapters 2, Workers' Compensation Act, and 3, Utah Occupational Disease Act.
(2) (a) There is created an Injury Fund, which shall be maintained by the Workers'Compensation Fund.
(b) The Injury Fund shall consist of all assets acquired from premiums and penalties paidinto the Injury Fund and interest and dividends earned on those assets.
(c) The Injury Fund is the sole source of money to:
(i) pay losses sustained on account of the insurance provided; and
(ii) pay salaries and other expenses of the Workers' Compensation Fund in accordancewith this chapter.

Amended by Chapter 222, 2000 General Session