SB3561 Summary

• Amends the Workers' Compensation Act to provide alternatives to posting a bond when seeking judicial review of a Commission award for payment of money.

• Allows parties to file collateral or guarantee through an insurance policy, certificate of self-insurance, or escrow deposit instead of a traditional bond.

• Permits the party against whom an award was rendered to extend the time for filing and approval of collateral or guarantee through motion to the circuit court, with total extensions not exceeding 45 days without written stipulation.

• Exempts the State, counties, municipalities, public institutions, and funds administered by the treasurer from the bond or collateral requirement when seeking judicial review.

• Exempts the Treasurer's Office from posting a bond when appealing on behalf of the Injured Workers' Benefit Fund.